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Answer to Question #61322 in Finance for Doltsee

Question #61322
What is an expected utility function? What are the important properties that an expected
utility function has?
Expert's answer
The utility function measures satisfaction of a consumer as a function of consumption of real goods, such as food, clothing
Utility function is widely used in analyze human behavior.

Important properties:
1) increasing
2) continuous
3) quasi-concave

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