On Professor Kohn and Expected Utility: Correction and Clarification
Ira Horowitz · International Economic Journal · 2001
As a result of an oversight and narrow assumption, Kohn and Hollenhorst (1988) Derive an equation that does not hold in general and that leads to some erroneous Inferences when relied upon in Kohn (1999). The purpose of this note is to identify And clarify the problem and its source, and to draw the appropriate inferences. [D80, Q25]