Disambiguation evidence for expected utility theory (with John von Neumann) via surface form
"expected utility theory"
As subject (45)
Triples where this entity appears as subject under the
label "expected utility theory".
| Predicate | Object |
|---|---|
| appliesTo | choices among risky lotteries ⓘ |
| appliesTo | decisions under risk ⓘ |
| assumes | agents have a utility function over outcomes ⓘ |
| assumes | expected utility axiom ⓘ |
| assumes | independence axiom ⓘ |
| assumes | preferences are continuous ⓘ |
| assumes | preferences over lotteries are complete ⓘ |
| assumes | preferences over lotteries are transitive ⓘ |
| characterizes | rational choice under risk ⓘ |
| contrastsWith | expected value maximization of monetary payoffs ⓘ |
| coreIdea | rational agents maximize expected utility rather than expected monetary value ⓘ |
| criticizedBy | prospect theory ⓘ |
| criticizedFor | inability to explain Allais paradox ⓘ |
| criticizedFor | inability to explain Ellsberg paradox ⓘ |
| criticizedFor | violations of independence axiom in empirical data ⓘ |
| describedIn | Theory of Games and Economic Behavior ⓘ |
| developedBy | John von Neumann ⓘ |
| developedBy | Oskar Morgenstern ⓘ |
| entails | risk attitudes are captured by curvature of utility function ⓘ |
| field | decision theory ⓘ |
| field | economics ⓘ |
| field | game theory ⓘ |
| formalizedBy |
expected utility theory (with John von Neumann)
self-linksurface differs
ⓘ
surface form:
von Neumann–Morgenstern utility theorem
|
| hasVariant |
expected utility theory (with John von Neumann)
self-linksurface differs
ⓘ
surface form:
von Neumann–Morgenstern expected utility theory
|
| implies | choices can be represented as maximization of expected utility ⓘ |
| influenced | finance theory ⓘ |
| influenced |
Theory of Games and Economic Behavior
ⓘ
surface form:
game theory
|
| influenced | modern microeconomic theory ⓘ |
| influenced | risk analysis ⓘ |
| influenced | welfare economics ⓘ |
| influencedBy | Bernoulli’s theory of utility ⓘ |
| instanceOf | decision theory ⓘ |
| instanceOf | economic theory ⓘ |
| instanceOf | normative theory of choice ⓘ |
| instanceOf | theory of rational choice under risk ⓘ |
| mathematicalForm | EU(a)=Σ p_i u(x_i) over possible outcomes x_i with probabilities p_i ⓘ |
| publicationYear | 1944 ⓘ |
| requires | cardinal utility up to positive affine transformations ⓘ |
| usedIn | cost–benefit analysis ⓘ |
| usedIn | expected utility maximization models in macroeconomics ⓘ |
| usedIn | insurance economics ⓘ |
| usedIn | portfolio choice theory ⓘ |
| usesConcept | lottery over outcomes ⓘ |
| usesConcept | probability distribution over outcomes ⓘ |
| usesConcept | utility function ⓘ |