Logarithmic utility
= Logarithmic utility
{title2=$U(x)=\log x$}
<Logarithmic utility> on positive <portfolio wealth> has <derivative> $1/x$ and relative risk aversion one. Its <utility conjugate> is $V(y)=-\log y-1$, since the maximizing wealth is $1/y$. It satisfies the <Inada conditions>.