TERMIUM Plus®

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certainty equivalent [1 record]

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Alphabetical list of terms

Record 1 1980-01-07

English

Subject field(s)
  • Decision-Making Process
  • Economic Planning
OBS

The point at which the individual is indifferent between a return that is certain and a return which has risk associated with it.

OBS

The sum of probabilities times expected values each weighed by its price or utility is the certainty equivalent. The present certainty equivalent value is the analogue under uncertainty of the present value in a world of perfect certainty - it is what planners ought to maximize.

French

Domaine(s)
  • Processus décisionnel
  • Planification économique
OBS

Lorsque l'équivalent certain d'une loterie est supérieur à son espérance de gain on parle de préférence pour le risque, et de neutralité s'il lui est égal.

Spanish

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