Weighted Quasi-Arithmetic Means on Two-Dimensional Regions: An Independent Case
Weighted quasi-arithmetic means on two-dimensional regions when weighting functions are independent and utility functions have independent forms are introduced, and some conditions on weighting functions are discussed to characterize the properties. The first-order stochastic dominance and risk premiums on two-dimensional regions are demonstrated. Several examples of two-dimensional utility functions are given by one-dimensional utility functions to explain main results.
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