英文文献：Empirical Tests of the Refutable Implications of Expected Utility Maximization under Risk-在风险下预期效用最大化的可反驳的影响的经验检验
英文文献作者：Liu, Yucan,Shumway, C. Richard
英文文献摘要：
The curvature properties of the indirect utility function imply a set of refutable implications in the form of comparative static results and symmetric relations for the competitive firm operating under uncertainty. These hypotheses, first derived and empirically tested under output price uncertainty by Saha and Shumway (1998), are extended in this paper to the more general case of both price and quantity uncertainty and result in an important theoretical finding. Empirical tests using a panel of state-level observations fail to reject most refutable hypotheses under output price and output quantity risk, but symmetry conditions implied by a twice-continuously-differentiable indirect utility function are rejected. Two restrictive risk preference hypotheses are also rejected. At individual observations, data were consistent with most of the hypotheses implied by individual states acting as though they were expected utility-maximizing firms.

间接效用函数的曲率性质以比较静态结果和对称关系的形式暗示了在不确定性条件下经营的竞争企业的一组可反驳的含义。这些假设首先由Saha和Shumway(1998)导出并在产出价格不确定性下进行了实证检验，本文将其扩展到价格和数量不确定性更一般的情况，并得到了一个重要的理论发现。在产出价格和产出数量风险下，使用一组国家级观测数据的经验检验无法拒绝大多数可反驳的假设，但拒绝了由二次连续可微的间接效用函数隐含的对称性条件。两个限制性的风险偏好假设也被拒绝。在个人观察中，数据与大多数假设是一致的，这些假设是由那些期望效用最大化的公司的国家所暗示的。