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Uncertain Paternity, Power Utility, and Fractional Moments: The Case of Binomially Distributed Reproductive Success

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  • Dirk Bethmann

    (Department of Economics, Korea University)

Abstract

In this paper, Newton's Theorem is used to derive a formula for the fractional moment of the binomial distribution. The formula is general enough to handle a continuous number of draws and thereby facilitates the analysis of representative agent models where discrete quantities are typically reflected by continuous variables. An application of the formula illustrates that it is easily implemented and can be quickly calculated using standard mathematical software.

Suggested Citation

  • Dirk Bethmann, 2022. "Uncertain Paternity, Power Utility, and Fractional Moments: The Case of Binomially Distributed Reproductive Success," Annals of Economics and Finance, Society for AEF, vol. 23(1), pages 11-22, May.
    • Handle: RePEc:cuf:journl:y:2022:v:23:i:1:bethmann
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    References listed on IDEAS

    as
    1. Lena Edlund, 2013. "The Role of Paternity Presumption and Custodial Rights for Understanding Marriage Patterns," Economica, London School of Economics and Political Science, vol. 80(320), pages 650-669, October.
    2. Brishti Guha, 2012. "Grandparents as Guards: A Game Theoretic Analysis of Inheritance and Post Marital Residence in a World of Uncertain Paternity," Working Papers 37-2012, Singapore Management University, School of Economics.
    3. Robert J. Willis, 1999. "A Theory of Out-of-Wedlock Childbearing," Journal of Political Economy, University of Chicago Press, vol. 107(S6), pages 33-64, December.
    4. Dirk Bethmann & Michael Kvasnicka, 2011. "The institution of marriage," Journal of Population Economics, Springer;European Society for Population Economics, vol. 24(3), pages 1005-1032, July.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Uncertain Paternity; Binomial Distribution; Expected Power Utility; Fractional Moment; Newton's Theorem.;
    All these keywords.

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth

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