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- W4290859093 abstract "Extract Chapter 1 considers decision theory. Starting with preference orderings, sufficient conditions are given for the existence of optimal choices and for the representation of preference orderings by utility functions. Following this, decision-making under risk is discussed. The starting point for the discussion is the von Neumann–Morgenstern model. This sets the stage for objections to the von Neumann–Morgenstern theory and consideration of possible alternatives that preserve some simplicity of structure. These separate into two groups—betweenness models in which indifference curves are linear but not parallel; and rank order models which permit nonlinear indifference curves. Finally, decisionmaking under uncertainty is discussed. This parallels the risk discussion, with the theory of Savage replacing that of von Neumann and Morgenstern. Objections to the theory of Savage are described and proposed alternatives are discussed. Chapter 2 focuses on preferences and risk, beginning with a discussion of risk aversion in the context of von Neumann–Morgenstern preferences...." @default.
- W4290859093 created "2022-08-12" @default.
- W4290859093 date "2005-05-19" @default.
- W4290859093 modified "2023-09-27" @default.
- W4290859093 title "A Brief Outline of the Chapters" @default.
- W4290859093 doi "https://doi.org/10.1093/0199280290.001.0001.002.005" @default.
- W4290859093 hasPublicationYear "2005" @default.
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