Query:
faculty: "FEB" and publication year: "1999"
| Authors | H. Zank, P.P. Wakker | | Title | A Unified Derivation of Classical Subjective Expected Utility Models through Cardinal Utility |
| Journal | Journal of mathematical economics |
| Volume | 32 |
| Year | 1999 |
| Pages | 1-19 |
| ISSN | 03044068 |
| Faculty | Faculty of Economics and Business |
| Institute/dept. | FEB: Research Institute in Economics and Econometrics Amsterdam (RESAM) |
| Keywords | Decision-making; Utility |
| Abstract | Classical foundations of expected utility were provided by Ramsey, de Finetti, von Neumann & Morgenstern, Anscombe & Aumann, and others. These foundations describe preference conditions to capture the empirical content of expected utility. The assumed preference conditions, however, vary among the models and a unifying idea is not readily transparent. Providing such a unifying idea is the purpose of this paper. The mentioned derivations have in common that a cardinal utility index for outcomes, independent of the states and probabilities, can be derived. Characterizing that feature provides the unifying idea of the mentioned models. |
| Document type | Article |
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