This Element offers an accessible but technically detailed review of expected utility theory (EU). it focuses on the methodological issues that have accompanied its evolution, such as whether the utility function and the other components of EU correspond to actual mental entities.
This Element offers an accessible but technically detailed review of expected utility theory (EU). it focuses on the methodological issues that have accompanied its evolution, such as whether the utility function and the other components of EU correspond to actual mental entities.
1. Introduction 2. Bernoulli's EU 3. Fortunes and misfortunes of Bernoulli's EU 4. Von Neumann and Morgenstern's EU: presentation 5. Von Neumann and Morgenstern's EU: discussion 6. Savage's EU 7. Beyond EU: prospect theory 8. A very short conclusion References.
1. Introduction 2. Bernoulli's EU 3. Fortunes and misfortunes of Bernoulli's EU 4. Von Neumann and Morgenstern's EU: presentation 5. Von Neumann and Morgenstern's EU: discussion 6. Savage's EU 7. Beyond EU: prospect theory 8. A very short conclusion References.
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