In decision theory, the von Neumann–Morgenstern (VNM) utility theorem demonstrates that rational choice under uncertainty involves making decisions that...

lottery with the highest expected utility. This result is the von Neumann–Morgenstern utility representation theorem. In other words, if an individual's...

made significant contributions to decision theory (see von Neumann–Morgenstern utility theorem). He served as a consultant or co-founder for companies...

ordinal utilities imply cardinal utilities. This result is now known as the von Neumann–Morgenstern utility theorem; many similar utility representation...

_{n}}}}}} The von Neumann-Morgenstern utility theorem is another model used to denote how risk aversion influences an actor’s utility function. An extension...

the utility of A is larger than that of B. The most famous example of a utility representation theorem is the Von Neumann–Morgenstern utility theorem, which...

u(A)-u(B)\leq u(C)-u(D)} Preference representation theorem Von Neumann–Morgenstern utility theorem Debreu, Gerard (1954). Representation of a preference...

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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...

function. Such functions are called cardinal utility functions. The article Von Neumann–Morgenstern utility theorem describes some ways by which they can be...

representation theorem. It can also be described as a middle-course theory that deals with both objective uncertainty (as in the von Neumann-Morgenstern framework)...

representation theorem states conditions for the existence of a utility function representing a preference relation. Examples are Von Neumann–Morgenstern utility theorem...

transformations. Anscombe-Aumann subjective expected utility model von Neumann-Morgenstern utility theorem Referring to axiom P2 as the sure-thing principle...

economist Oskar Morgenstern presented a rigorous schematization of an ordinal utility function (the Von Neumann–Morgenstern utility theorem) in Theory of...

trade-offs by considering the voter's cardinal utilities, particularly via the von Neumann–Morgenstern utility theorem, and the probabilities of how others vote...

theory Rational choice theory Mathematics of bookmaking Von Neumann-Morgenstern utility theorem Scoring rule Sleeping Beauty problem Bovens, Luc; Hartmann...

zero-sum games and its proof by John von Neumann. Von Neumann's original proof used the Brouwer fixed-point theorem on continuous mappings into compact...

of Utility". Journal of Political Economy. 63 (4): 309–321. doi:10.1086/257678. JSTOR 1827128. S2CID 222434288. Neumann, John von and Morgenstern, Oskar...

Rationalization (making excuses) Satisficing Superrationality Von Neumann–Morgenstern utility theorem Moser, Paul (2006). "Rationality". In Borchert, Donald...

extended von Neumann and Morgenstern's axioms of rational preferences to endogenize probability and make it subjective. He then used Bayes' theorem to update...

von Neumann–Morgenstern utility theorem function. Nash [1950] defines a classical bargaining problem as being a set of joint allocations of utility,...

Morgenstern. Secondly, the field of economics in a behavioural sense was scarcely studied in the 1950s and 60s. The Von Neumann-Morgenstern utility theorem...

Derived from the Morgenstern-von Neumann Utility Theory". In Martin Shubik (ed.). Essays in Mathematical Economics In Honor of Oskar Morgenstern. Princeton...

concept of "expected utility" in the context of gambling, which was later formalized by John von Neumann and Oskar Morgenstern in the 1940s. Their work...

concept of a mixed-strategy equilibrium was introduced by John von Neumann and Oskar Morgenstern in their 1944 book The Theory of Games and Economic Behavior...

services per unit time. Verdoorn's law Virginia school Von Neumann–Morgenstern utility theorem wage The monetary compensation (or remuneration, personnel...

predictions from. It refers specifically to a property of von Neumann–Morgenstern utility functions, which are typically functions of final wealth (or...

John von Neumann and Oskar Morgenstern (1944). Review published in the Bulletin of the American Mathematical Society 51(7) pp 498–504 (July 1945) Von Neumann...

United States, including Albert Einstein, Hermann Weyl, Oskar Morgenstern, John von Neumann, Eugene Wigner, and Paul Erdős. Albert Einstein, although never...