Explaining the characteristics of the power (CRRA) utility family
解释了最常用的幂效用函数（CRRA）的特征，澄清了常见的误解，适合需要理解该函数的经济学研究者。
The power family, also known as the family of constant relative risk aversion (CRRA), is the most widely used parametric family for fitting utility functions to data. Its characteristics have, however, been little understood, and have led to numerous misunderstandings. This paper explains these characteristics in a manner accessible to a wide audience.