How a Certain Internal Consistency Entails the Expected Utility Dogma.

B-Tier
Journal: Journal of Risk and Uncertainty
Year: 1988
Volume: 1
Issue: 4
Pages: 389-93

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

If I am "coherent," in the sense that I can always replace any subset of outcomes by their certainty equivalent (occuring with the sum of their probabilities), then I must act according to the dogma of maximizing an Exp {U}, ruling out Machina (1982), Allais (1952), and Ysidro (1950) functionals. Copyright 1988 by Kluwer Academic Publishers

Technical Details

RePEc Handle
repec:kap:jrisku:v:1:y:1988:i:4:p:389-93
Journal Field
Theory
Author Count
1
Added to Database
2026-01-29