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 called the von Neumann–Morgenstern utility representation theorem. In other words, if an individual's...

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...

decision-making and made major contributions to decision theory (see von Neumann–Morgenstern utility theorem). Companies he served as founder/co-founder of included...

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...

Birkhoff–von Neumann theorem Birkhoff–von Neumann decomposition Dirac–von Neumann axioms Koopman–von Neumann classical mechanics Schatten–von Neumann norm...

theory Rational choice theory Mathematics of bookmaking Von Neumann-Morgenstern utility theorem Scoring rule Bovens, Luc; Hartmann, Stephan (2003). "Coherence"...

of a utility function representing a preference relation. Examples are Von Neumann–Morgenstern utility theorem and Debreu's representation theorems. Classification...

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...

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

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

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

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

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...

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

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

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

closely related to and relies on the Von Neumann–Morgenstern utility theorem and Harsanyi's utilitarian theorem, two critical results in social choice...

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

development of utility theory, and it was he who laid much of the groundwork for the solution of the problem of the existence of Von Neumann–Morgenstern stable...

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

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...

often justified by reference to Harsanyi's utilitarian theorem or the Von Neumann–Morgenstern theorem. Let X {\displaystyle X} be a set of possible "states...

expected utility theory to situations where subjective probabilities can be used. At the time, von Neumann and Morgenstern's theory of expected utility proved...

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...

Rios published a Spanish language description of the Von Neumann–Morgenstern utility theorem. He was a member of the editorial board of Statistical...