[Edit][History] last modified april 30, 2008
Contributions: International Economic Association (Corporate Author), Kenneth Joseph Arrow (Editor)
Language: English
Format: Hardcover
ISBN 10: 0333621972
ISBN 13: 9780333621974
Subject: Economic theory & philosophy
Congresses
Economic man
Rational choice theory
Rational expectations (Economic theory)
Business/Economics
description
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First sentence: If adopting options involves adopting particular probability distributions over the states of nature, your preference ranking of options should agree with your numerical ranking of expectations of utility computed according to the corresponding distributions (von Neumann and Morgenstern, 1944, 1947).

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