The Rational Foundations of Economic Behaviour
Subtitle: Proceedings of the Iea Conference Held in Turin, Italy (Iea Conference Volume)
Contributors: International Economic Association (Corporate Author); Kenneth J. Arrow (Editor); Enrico Colombatto (Editor); Mark Perlman (Editor); Christian Schmidt (Editor)
Publisher: Palgrave MacMillan
Published: February 1996
Language: eng
Format: Hardcover
Number of pages: 379
ISBN-13: 9780312127084
Subjects: Economics - General; International - Economics; Economic Theory; Business / Economics / Finance; Congresses; Economic man; Rational choice theory; Rational expectations (Economic theory); Business/Economics
First sentence: If adopting options involves adopting particular probability distributions over the states of nature, your preference ranking of options should agree with your numerical ranking of expectations of utility computed according to the corresponding distributions (von Neumann and Morgenstern, 1944, 1947).