Mathematics of Operations Research, Vol. 41, No. 1 (February 2016), pp. 146-173 (28 pages) This paper investigates the problem of maximizing expected terminal utility in a (generically incomplete) ...

Utility functions offer a means to encode objectives and preferences in investor portfolios. The functions allow one to place a score on outcomes and then identify optimal portfolios by maximizing ...

A lot of programming languages these days feature lambda functions, or what I would be just as happy to call anonymous functions. Some people make a big deal out of these but the core idea is very ...