Description Usage Arguments Details Value Author(s) See Also Examples

View source: R/Eval.Utilities.R

Evaluation of utilities for a data.table of indexes, the utilities functions are computed over every index represented by each column of the input table.

1 | ```
Eval.Utilities(index, columns, functions)
``` |

`index` |
data.table of indexes. |

`columns` |
columns with indexes where the utilities will be computed. |

`functions` |
vector of characters with name of functions. |

Every index has associated an utility function, inside `mau`

is possible to employ
any functions, the only special requirement is that the utility has to be normalized, this means
that the utility is bounded between 0 and 1.

Also is possible to consider utilities with constant risk aversion CRA, in the sense of Arrow,
for such case there is only two types of functions *u(x) = a x + b* or
*u(x) = a e^{bx} + c*, to determine these functions, it is only necessary to specify the
parameters *a*, *b* and *c*. For a decision model only elaborated with CRA
utilities, `mau`

could read a text file where every utility is piecewise defined.

The format for the text file containing the definition of utility functions is given by is:

[Header]

[Function name]

[min1 max1 a1 b1 c1]

[min2 max2 a2 b2 c2]

[min3 max3 a3 b3 c3]

...

[Function name]

[min1 max1 a1 b1 c1]

[min2 max2 a2 b2 c2]

[min3 max3 a3 b3 c3]

...

If the coefficient c is non zero the function is interpreted as an exponential type.

data.table with utilities evaluated for every index.

Pedro Guarderas, pedro.felipe.guarderas@gmail.com, Andr<c3><a9>s Lopez.

1 2 |

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