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Title: |
On Professor Kohn and Expected Utility: Correction and Clarification |
| Author: |
Horowitz, Ira |
| Author
Affiliation: |
U FL |
| Source: |
International Economic Journal, Summer 2001, v. 15, no. 2, pp. 51-56 |
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Publication Date: |
Summer 2001 |
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Abstract: |
As a result of an oversight and narrow
assumption, Kohn and Hollenhorst (1988) derive an equation that does not
hold in general and that leads to some erroneous inferences when relied
upon in Kohn (1999). The purpose of this note is to identify and clarify
the problem and its source, and to draw the appropriate inferences. |
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