Theorem of existence of ruptures for mean values on finite numerical segments. Discrete case

Alexander Harin

MPRA Paper from University Library of Munich, Germany

Abstract: The proof of the theorem of existence of the ruptures, namely the proof of maximality, is improved. The theorem may be used in economics and explain the well-known problems such as Allais’ paradox. Illustrated examples of ruptures are presented.

Keywords: utility; utility theory; probability; uncertainty; decisions; economics; Allais paradox; risk aversion (search for similar items in EconPapers)
JEL-codes: C0 C02 C1 C44 D81 G22 (search for similar items in EconPapers)
Date: 2011-12-31
New Economics Papers: this item is included in nep-acc and nep-upt
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