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Felix Kübler

Professor
Department of Finance
Swiss Finance Institute
Switzerland

Biography

In a recent paper, Prof. Kübler and his coauthors raise the question of what asset demand tests of expected utility are actually testing. They contribute to the literature by extending the expected utility representation to a set of contingent claim spaces where each space corresponds to a different set of probabilities and the von Neumann–Morgenstern index is the same across the different spaces. This is achieved by presenting a set of axiom systems in three different subspaces of the full distribution space: a single contingent claim space, a set of contingent claim spaces, and a space of risky prospects with a fixed number of states.

Research Interest

Theoretical financial economics and computational methods.

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