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Expected Utility Hypotheses and the Allais Paradox.by Maurice Allais; Ole Hagen

✍ Scribed by Review by: Glenn R. Shafer


Book ID
125230481
Publisher
American Statistical Association
Year
1984
Tongue
English
Weight
673 KB
Volume
79
Category
Article
ISSN
0162-1459

No coin nor oath required. For personal study only.


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Expected utility theory is a normative approach to the question of how people should rationally make choice under uncertainty. Its admirers (the present author among them) would use it in every such situation. Consequently alledged counter examples, in which it is arguably unreasonable to act as exp