In decision theory, the von Neumann–Morgenstern (VNM) utility theorem shows that, under certain axioms of rational behavior, a decision-maker faced with...
20 KB (3,356 words) - 13:17, 22 April 2024
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 (5,643 words) - 18:02, 25 April 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...
39 KB (5,220 words) - 06:08, 22 April 2024
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...
13 KB (1,293 words) - 16:25, 30 January 2024
Birkhoff–von Neumann theorem Birkhoff–von Neumann decomposition Dirac–von Neumann axioms Koopman–von Neumann classical mechanics Schatten–von Neumann norm...
4 KB (376 words) - 15:09, 16 December 2023
representation theorem states conditions for the existence of a utility function representing a preference relation. Examples are Von Neumann–Morgenstern utility theorem...
5 KB (608 words) - 03:01, 27 September 2023
finite multi-utility representation theorem, at least, not by using the methods adopted in this paper". Von Neumann-Morgenstern utility theorem Harsanyi's...
19 KB (2,679 words) - 02:11, 29 January 2024
function. Such functions are called cardinal utility functions. The article Von Neumann–Morgenstern utility theorem describes some ways by which they can be...
15 KB (2,979 words) - 07:39, 3 November 2023
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...
33 KB (4,523 words) - 03:29, 25 March 2024