In decision theory, the von Neumann–Morgenstern (VNM) utility theorem shows that, under certain axioms of rational behavior, a decision-maker faced with...
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lottery with the highest expected utility. This result is called the von Neumann–Morgenstern utility representation theorem. In other words, if an individual's...
42 KB (5,645 words) - 00:52, 29 May 2024
Risk aversion (redirect from CARA utility)
_{n}}}}}} The von Neumann-Morgenstern utility theorem is another model used to denote how risk aversion influences an actor’s utility function. An extension...
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ordinal utilities imply cardinal utilities. This result is now known as the von Neumann-Morgenstern utility theorem; many similar utility representation...
35 KB (4,540 words) - 19:35, 23 February 2024
the social sciences and strategic decision-making (see von Neumann–Morgenstern utility theorem). Companies he served as founder/co-founder of included...
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Birkhoff–von Neumann theorem Birkhoff–von Neumann decomposition Dirac–von Neumann axioms Koopman–von Neumann classical mechanics Schatten–von Neumann norm...
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services per unit time. Verdoorn's law Virginia school Von Neumann–Morgenstern utility theorem wage The monetary compensation (or remuneration, personnel...
226 KB (25,076 words) - 13:58, 4 June 2024
representation theorem states conditions for the existence of a utility function representing a preference relation. Examples are Von Neumann–Morgenstern utility theorem...
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use of the expected utility theory was that of John von Neumann and Oskar Morgenstern, who used the assumption of expected utility maximization in their...
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u(A)-u(B)\leq u(C)-u(D)} Preference representation theorem Von Neumann–Morgenstern utility theorem Debreu, Gerard (1954). Representation of a preference...
14 KB (2,667 words) - 08:37, 11 March 2024