The ordinal utility under uncertainty an
✍
Aldo Montesano
📂
Article
📅
1985
🏛
Springer US
🌐
English
⚖ 427 KB
THE ORDINAL UTILITY UNDER UNCERTAINTY AND THE MEASURE OF RISK AVERSION IN TERMS OF PREFERENCES 1. INTRODUCTION A choice is said to be rational if it follows a criterion, which is usually introduced as a preference model. The von Neumann-Morgenstern theory 1 not only assumes such a rationality but al