Quick note: might be easier to replace your utility function as u(x)=1−e−λx for some parameter λ>0 (which is equivalent to the one you have, after rescaling and shifting). Utility functions should be convex but this is very convex, being bounded above.
Utility functions are discussed a lot here; I think it’s worth poking around a bit.
Quick note: might be easier to replace your utility function as u(x)=1−e−λx for some parameter λ>0 (which is equivalent to the one you have, after rescaling and shifting). Utility functions should be convex but this is very convex, being bounded above.
Utility functions are discussed a lot here; I think it’s worth poking around a bit.