Expected Utility Hypotheses and the Allais Paradox

Expected Utility Hypotheses and the Allais Paradox
Author :
Publisher : Springer Science & Business Media
Total Pages : 706
Release :
ISBN-10 : 9789401576291
ISBN-13 : 9401576297
Rating : 4/5 (297 Downloads)

Book Synopsis Expected Utility Hypotheses and the Allais Paradox by : M. Allais

Download or read book Expected Utility Hypotheses and the Allais Paradox written by M. Allais and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt: Utility theory or, value theory in general, is certainly the cornerstone of decision theory, game theory, microecon~mics, and all social and political theories which deal with public decisions. Recently the American School of utility, founded by von N eumann Morgenstern, encountered a far-going criticism by the French School of utility represented by its founder Allais. The whole basis of the theory of decisions involving risk has been shaken and put into question. Consequently, basic research in the fundamentals of utility and value theory evolved into a crisis. Like any crisis in basic research, and this one was not an exception, it was very fruitful. One may simply say: Allais versus von Neumann-Morgenstern, or the French School of utility versus the American School, became one of the battlefields of scientific development which proved to be a most creative source of new advances and new developments in all those sciences which are based on evaluation of utilities.


Expected Utility Hypotheses and the Allais Paradox Related Books

Expected Utility Hypotheses and the Allais Paradox
Language: en
Pages: 706
Authors: M. Allais
Categories: Social Science
Type: BOOK - Published: 2013-03-14 - Publisher: Springer Science & Business Media

GET EBOOK

Utility theory or, value theory in general, is certainly the cornerstone of decision theory, game theory, microecon~mics, and all social and political theories
German Utility Theory
Language: en
Pages: 497
Authors: John S. Chipman
Categories: Business & Economics
Type: BOOK - Published: 2013-11-07 - Publisher: Routledge

GET EBOOK

There is a standard belief that the modern theory of marginal utility originated in the UK with Jevons, Germany with Gossen, Austria with Menger and France with
Theory of Games and Economic Behavior
Language: en
Pages: 660
Authors: John Von Neumann
Categories: Games & Activities
Type: BOOK - Published: 2020-01-29 - Publisher: Diana

GET EBOOK

This is the classic work upon which modern-day game theory is based. What began as a modest proposal that a mathematician and an economist write a short paper t
History of Marginal Utility Theory
Language: en
Pages: 271
Authors: Emil Kauder
Categories: Business & Economics
Type: BOOK - Published: 2015-12-08 - Publisher: Princeton University Press

GET EBOOK

The author blends historical narrative with a topical approach and discusses such aspects of the theory as measurement, total value, and imputation. Originally
Veblen
Language: en
Pages: 505
Authors: Charles Camic
Categories: Business & Economics
Type: BOOK - Published: 2020-11-30 - Publisher: Harvard University Press

GET EBOOK

A bold new biography of the thinker who demolished accepted economic theories in order to expose how people of economic and social privilege plunder their wealt