Hedging Under Output Price Randomness
用均值-标准差模型分析一个常见的对冲模型，简化了仅用期望效用方法得出的结论的证明，并提供了更直观的理解。
Abstract An expected utility analysis of a frequently studied hedging model is carried out using mean‐standard deviation modeling techniques. This is possible because the hedging model satisfies a location and scale condition. As a result, one can simplify the proofs of, and provide more intuition for, results concerning hedging developed using only expected utility techniques.