On the Necessary Condition for Linear Sharing and Separation: A Note
指出金融界普遍接受的线性共享规则帕累托最优的充要条件（等谨慎HARA类效用函数）并非必要，并推导了在固定初始禀赋分布下的真正充要条件，给出满足新条件的效用函数例子。
A necessary and sufficient condition for linear sharing rules to be Pareto optimal, as gen? erally accepted by the finance community, is that utility functions be of the equicautious HARA class. We demonstrate that this condition is not necessary for a fixed distribution of initial endowments and derive the necessary and sufficient condition. We show exam? ples of utility functions satisfy ing our conditions.