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VON NEUMANN-MORGENSTERN UTILITY THEORY [1 record]

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Record 1 1999-02-23

English

Subject field(s)
  • Economics
CONT

An axiomatic extension of the ordinal concept of utility to uncertain payoffs. An agent possesses a von Neumann-Morgenstern utility function if she ranks uncertain payoffs according to (higher) expected value of her utility of the individual outcomes that may occur.

French

Domaine(s)
  • Économique
CONT

Le troisième chapitre expose la théorie de l'espérance d'utilité de von Neumann et Morgenstern en se basant sur le traitement de Hernstein et Milnor (1953), étudie la notion d'aversion au risque (Pratt, 1964) et expose la théorie des choix en environnement non probabilisé de Anscombe et Aumann (1961).

Spanish

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