Theory and Decision Library

The Foundations of Expected Utility

Authors: Fishburn, P.C.

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About this book

This book offers a unified treatment of my research in the foundations of expected utility theory from around 1965 to 1980. While parts are new, the presentation draws heavily on published articles and a few chapters in my 1970 monograph on utility theory. The diverse notations and styles of the sources have of course been reconciled here, and their topics arranged in a logical sequence. The two parts of the book take their respective cues from the von Neumann-Morgenstern axiomatization of preferences between risky options and from Savage's foundational treatment of decision making under uncertainty. Both parts are studies in the axiomatics of preferences for decision situations and in numerical representations for preferences. Proofs of the representation and uniqueness theorems appear at the ends of the chapters so as not to impede the flow of the discussion. A few warnings on notation are in order. The numbers for theorems cited within a chapter have no prefix if they appear in that chapter, but otherwise carry a chapter prefix (Theorem 3.2 is Theorem 2 in Chapter 3). All lower case Greek letters refer to numbers in the closed interval from o to 1. The same symbol in different chapters has essentially the same meaning with one major exception: x, y, ... mean quite different things in different chapters. I am indebted to many people for their help and encouragement.

Reviews

`...this is the third masterpiece written by the author, ...as such, it is very highly recommended.' Mathematical Reviews

Table of contents (12 chapters)

  • Introduction

    Fishburn, Peter C.

    Pages 1-8

  • Linear Utility on Mixture Sets

    Fishburn, Peter C.

    Pages 11-21

  • Expected Utility for Probability Measures

    Fishburn, Peter C.

    Pages 23-34

  • Lexicographic Quasilinear Utility

    Fishburn, Peter C.

    Pages 35-55

  • Linear Utility for Partially Ordered Preferences

    Fishburn, Peter C.

    Pages 57-71

Buy this book

eBook $169.00
price for USA in USD (gross)
  • ISBN 978-94-017-3329-8
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $219.99
price for USA in USD
  • ISBN 978-90-277-1420-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $289.00
price for USA in USD
  • ISBN 978-90-481-8373-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
The Foundations of Expected Utility
Authors
Series Title
Theory and Decision Library
Series Volume
31
Copyright
1982
Publisher
Springer Netherlands
Copyright Holder
Springer Science+Business Media Dordrecht
eBook ISBN
978-94-017-3329-8
DOI
10.1007/978-94-017-3329-8
Hardcover ISBN
978-90-277-1420-6
Softcover ISBN
978-90-481-8373-9
Edition Number
1
Number of Pages
XII, 178
Topics