The Rational Foundations of Economic Behavior
Subtitle: Proceedings of the IEA Conference held in Turin, Italy (International Economic Association Conference Volumes)
Contributors: Kenneth J. Arrow (Editor); Enrico Colombatto (Editor); Mark Perlman (Editor); Christian Schmidt (Editor)
Publisher: Palgrave Macmillan
Published: December 17, 1999
Language: eng
Format: Paperback
Number of pages: 405
ISBN-13: 9780312225667
Subjects: Behavioral Economics; Mathematical Economics; Business & Economics; Business / Economics / Finance; Textbooks; Business/Economics; Economics - General; Political Science / Economic Policy; Game Theory
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).