Expected Utility Hypotheses and the Allais Paradox

Expected Utility Hypotheses and the Allais Paradox
Author: M. Allais
Publisher: Springer Science & Business Media
Total Pages: 706
Release: 2013-03-14
Genre: Social Science
ISBN: 9401576297

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

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Utility theory or, value theory in general, is certainly the cornerstone of decision theory, game theory, microecon~mics, and all social and political theories
Expected Utility Hypotheses and the Allais Paradox
Language: en
Pages:
Authors: Centre national de la recherche scientifique (France)
Categories: Decision making
Type: BOOK - Published: 1979 - Publisher:

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Expected Utility Hypotheses and the Allais Paradox
Language: en
Pages: 0
Authors: Maurice Allais
Categories:
Type: BOOK - Published: 1979 - Publisher:

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Preface [to] Expected Utility Hypotheses and the Allais Paradox
Language: en
Pages: 11
Authors: Maurice Allais
Categories:
Type: BOOK - Published: 1977 - Publisher:

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The History and Methodology of Expected Utility
Language: en
Pages: 99
Authors: Ivan Moscati
Categories: Philosophy
Type: BOOK - Published: 2023-08-31 - Publisher: Cambridge University Press

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This Element offers an accessible but technically detailed review of expected utility theory (EU). it focuses on the methodological issues that have accompanied