Axioms and Counterexamples Expected Utility Theory

Kazuhisa Takemura
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Kazuhisa Takemura: Waseda University

Chapter Chapter 6 in Behavioral Decision Theory, 2014, pp 63-73 from Springer

Abstract: Abstract Chapter 5 explained the relevance between the initial idea of expected utility theory and psychology and introduced some studies of utility measurement based on expected utility theory. This chapter will first explain the axiomatic system of expected utility theory, then how to approach the axiomatic system, with introduction of some counterexamples.

Keywords: Preference Relation; Utility Theory; Axiomatic System; Expected Utility Theory; Ambiguity Aversion (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-4-431-54580-4_6

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DOI: 10.1007/978-4-431-54580-4_6

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