All Questions
Tagged with expected-utility social-choice
3 questions
2
votes
0
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15
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What does the empirical literature tell us about the relative merits of alternative functional forms describing the marginal utility of income?
Among the various functional forms that have been used on model the marginal utility of income in, e.g., in making decisions under uncertainty, and perhaps intertemporal choice as well, is the ...
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6
votes
1
answer
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Does vNM rationality depend on the good chosen?
The von Neumann-Morgenstern theorem states that, assuming a person's preferences under risk satisfy certain rationality axioms, then there exists a utility function u, the von Neumann utility function,...
7
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3
answers
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Question about the Ellsberg Paradox in Expected Utility Theory
The von Neumann-Morgenstern theorem states that, assuming a person's preferences under risk satisfy certain rationality axioms, then there exists a utility function u, the von Neumann utility function,...