Evaluate logarithmic utility function: U(w) = ln(w). This is a special case of CRRA with gamma = 1. Returns utility value, marginal utility (1/w), absolute risk aversion (1/w), and relative risk aversion (constant = 1). Log utility exhibits decreasing absolute risk aversion and constant relative risk aversion. Commonly used in portfolio theory and growth-optimal strategies.
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Current wealth level (must be positive)
x > 010000