An Alternative Approach to Decisions under Uncertainty Using the Empirical Moment‐Generating Function
提出一种非参数方法，利用经验矩生成函数和指数效用函数进行期望效用最大化，得到不受特定分布限制的土地分配决策规则，考虑了所有矩的信息。
Abstract Objections to mean‐variance analysis center on the requirement that the distributions be normal or the resulting inattention to higher‐order moments when the solution is viewed as an approximation. A nonparametric approach to decision making under uncertainty is developed in this paper using expected utility maximization, the exponential utility function, and an empirical moment‐generating function. A decision rule is obtained for land allocation under uncertainty which is not tied to a particular family of distributions and accounts for all moments of the distribution.