Matches in DBpedia 2015-10 for { <http://dbpedia.org/resource/Expected_utility_hypothesis> ?p ?o }
- Expected_utility_hypothesis abstract "In economics, game theory, and decision theory the expected utility hypothesis is a hypothesis concerning people's preferences with regard to choices that have uncertain outcomes (gambles). This hypothesis states that if specific axioms are satisfied, the subjective value associated with an individual's gamble is the statistical expectation of that individual's valuations of the outcomes of that gamble. This hypothesis has proved useful to explain some popular choices that seem to contradict the expected value criterion (which takes into account only the sizes of the payouts and the probabilities of occurrence), such as occur in the contexts of gambling and insurance. Daniel Bernoulli initiated this hypothesis in 1738. Until the mid-twentieth century, the standard term for the expected utility was the moral expectation, contrasted with "mathematical expectation" for the expected value.The von Neumann–Morgenstern utility theorem provides necessary and sufficient conditions under which the expected utility hypothesis holds. From relatively early on, it was accepted that some of these conditions would be violated by real decision-makers in practice but that the conditions could be interpreted nonetheless as 'axioms' of rational choice. Work by Anand (1993) argues against this normative interpretation and shows that 'rationality' does not require transitivity, independence or completeness. This view is now referred to as the 'modern view' and Anand argues that despite the normative and evidential difficulties the general theory of decision-making based on expected utility is an insightful first order approximation that highlights some important fundamental principles of choice, even if it imposes conceptual and technical limits on analysis which need to be relaxed in real world settings where knowledge is less certain or preferences are more sophisticated.".
- Expected_utility_hypothesis wikiPageExternalLink small-diffs.htm.
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- Expected_utility_hypothesis wikiPageWikiLink AFM_Smith.
- Expected_utility_hypothesis wikiPageWikiLink Adrian_Smith_(statistician).
- Expected_utility_hypothesis wikiPageWikiLink Affine_transformation.
- Expected_utility_hypothesis wikiPageWikiLink Allais_paradox.
- Expected_utility_hypothesis wikiPageWikiLink Ambiguity_aversion.
- Expected_utility_hypothesis wikiPageWikiLink Axiom.
- Expected_utility_hypothesis wikiPageWikiLink Bayes_theorem.
- Expected_utility_hypothesis wikiPageWikiLink Bayesian_probability.
- Expected_utility_hypothesis wikiPageWikiLink Bayess_rule.
- Expected_utility_hypothesis wikiPageWikiLink Behavioral_economics.
- Expected_utility_hypothesis wikiPageWikiLink Behavioral_finance.
- Expected_utility_hypothesis wikiPageWikiLink Belief_revision.
- Expected_utility_hypothesis wikiPageWikiLink Bruno_de_Finetti.
- Expected_utility_hypothesis wikiPageWikiLink Cardinal_utility.
- Expected_utility_hypothesis wikiPageWikiLink Category:Belief_revision.
- Expected_utility_hypothesis wikiPageWikiLink Category:Decision_theory.
- Expected_utility_hypothesis wikiPageWikiLink Category:Economics_of_uncertainty.
- Expected_utility_hypothesis wikiPageWikiLink Category:Game_theory.
- Expected_utility_hypothesis wikiPageWikiLink Category:Motivational_theories.
- Expected_utility_hypothesis wikiPageWikiLink Category:Optimal_decisions.
- Expected_utility_hypothesis wikiPageWikiLink Category:Utility.
- Expected_utility_hypothesis wikiPageWikiLink Certainty_equivalent.
- Expected_utility_hypothesis wikiPageWikiLink Charles_Sanders_Peirce.
- Expected_utility_hypothesis wikiPageWikiLink Concave_function.
- Expected_utility_hypothesis wikiPageWikiLink Conditional_probability.
- Expected_utility_hypothesis wikiPageWikiLink Constant_absolute_risk_aversion.
- Expected_utility_hypothesis wikiPageWikiLink Constant_relative_risk_aversion.
- Expected_utility_hypothesis wikiPageWikiLink Cumulative_prospect_theory.
- Expected_utility_hypothesis wikiPageWikiLink Daniel_Bernoulli.
- Expected_utility_hypothesis wikiPageWikiLink Decision_theory.
- Expected_utility_hypothesis wikiPageWikiLink Donald_Davidson_(philosopher).
- Expected_utility_hypothesis wikiPageWikiLink Economics.
- Expected_utility_hypothesis wikiPageWikiLink Elliptical_distribution.
- Expected_utility_hypothesis wikiPageWikiLink Entropic_risk_measure.
- Expected_utility_hypothesis wikiPageWikiLink Expected_utility.
- Expected_utility_hypothesis wikiPageWikiLink Expected_utility_hypothesis.
- Expected_utility_hypothesis wikiPageWikiLink Expected_value.
- Expected_utility_hypothesis wikiPageWikiLink Frank_P._Ramsey.
- Expected_utility_hypothesis wikiPageWikiLink Gabriel_Cramer.
- Expected_utility_hypothesis wikiPageWikiLink Game_theory.
- Expected_utility_hypothesis wikiPageWikiLink Generalized_expected_utility.
- Expected_utility_hypothesis wikiPageWikiLink Hyperprior.
- Expected_utility_hypothesis wikiPageWikiLink Indifference_price.
- Expected_utility_hypothesis wikiPageWikiLink Isoelastic_utility.
- Expected_utility_hypothesis wikiPageWikiLink John_von_Neumann.
- Expected_utility_hypothesis wikiPageWikiLink Joseph_Jastrow.
- Expected_utility_hypothesis wikiPageWikiLink Kahneman.
- Expected_utility_hypothesis wikiPageWikiLink Knightian_uncertainty.
- Expected_utility_hypothesis wikiPageWikiLink Long-tailed_distribution.
- Expected_utility_hypothesis wikiPageWikiLink Long_tail.
- Expected_utility_hypothesis wikiPageWikiLink Loss_aversion.
- Expected_utility_hypothesis wikiPageWikiLink Loss_function.
- Expected_utility_hypothesis wikiPageWikiLink Lottery_(probability).
- Expected_utility_hypothesis wikiPageWikiLink Marginal_utility.
- Expected_utility_hypothesis wikiPageWikiLink Martin_Shubik.
- Expected_utility_hypothesis wikiPageWikiLink Mathematical_model.
- Expected_utility_hypothesis wikiPageWikiLink Minimax.
- Expected_utility_hypothesis wikiPageWikiLink Minimax_regret.
- Expected_utility_hypothesis wikiPageWikiLink Modern_portfolio_theory.
- Expected_utility_hypothesis wikiPageWikiLink Monty_Hall_problem.
- Expected_utility_hypothesis wikiPageWikiLink Multilevel_model.
- Expected_utility_hypothesis wikiPageWikiLink Nicolas_Bernoulli.
- Expected_utility_hypothesis wikiPageWikiLink Nicolaus_I_Bernoulli.
- Expected_utility_hypothesis wikiPageWikiLink Normal_distribution.
- Expected_utility_hypothesis wikiPageWikiLink Ordinal_utility.
- Expected_utility_hypothesis wikiPageWikiLink Oskar_Morgenstern.
- Expected_utility_hypothesis wikiPageWikiLink Patrick_Suppes.
- Expected_utility_hypothesis wikiPageWikiLink Prospect_theory.
- Expected_utility_hypothesis wikiPageWikiLink Rank-dependent_expected_utility.
- Expected_utility_hypothesis wikiPageWikiLink Rational_choice_theory.
- Expected_utility_hypothesis wikiPageWikiLink Regret_(decision_theory).
- Expected_utility_hypothesis wikiPageWikiLink Risk.
- Expected_utility_hypothesis wikiPageWikiLink Risk_(statistics).
- Expected_utility_hypothesis wikiPageWikiLink Risk_attitude.
- Expected_utility_hypothesis wikiPageWikiLink Risk_aversion.
- Expected_utility_hypothesis wikiPageWikiLink Risk_premium.
- Expected_utility_hypothesis wikiPageWikiLink Robust_decision.
- Expected_utility_hypothesis wikiPageWikiLink A_theory.
- Expected_utility_hypothesis wikiPageWikiLink Scenario_analysis.
- Expected_utility_hypothesis wikiPageWikiLink Scott_Plous.
- Expected_utility_hypothesis wikiPageWikiLink Sensitivity_analysis.
- Expected_utility_hypothesis wikiPageWikiLink Set_theory.
- Expected_utility_hypothesis wikiPageWikiLink Sidney_Siegel.
- Expected_utility_hypothesis wikiPageWikiLink St._Petersburg_paradox.
- Expected_utility_hypothesis wikiPageWikiLink Stanford_University_Press.
- Expected_utility_hypothesis wikiPageWikiLink Subjective_expected_utility.
- Expected_utility_hypothesis wikiPageWikiLink Tversky.
- Expected_utility_hypothesis wikiPageWikiLink Twersky.
- Expected_utility_hypothesis wikiPageWikiLink Two-moment_decision_model.
- Expected_utility_hypothesis wikiPageWikiLink Two-moment_decision_models.
- Expected_utility_hypothesis wikiPageWikiLink Uncertainty.
- Expected_utility_hypothesis wikiPageWikiLink Variance.