The Utility of infinite menus
Author: Nielsen, Lars Tyge INSEAD Area: Finance Series: Working Paper ; 90/52/FIN Publisher: Fontainebleau : INSEAD, 1990.Language: EnglishDescription: 12 p.Type of document: INSEAD Working Paper Online Access: Click here Abstract: It is often argued that the St. Petersburg paradox shows that von Neumann-Morgenstern utility functions must be bounded. Shapley (1977a,b) has argued that even ordinal utility functions must be bounded. By implication, von Neumann-Morgenstern utility functions must be bounded, but the boundedness issue is independent of the considerations surrounding gambling and the St. Petersburg paradox. That view is challenged in the present paperItem type | Current location | Collection | Call number | Status | Date due | Barcode | Item holds |
---|---|---|---|---|---|---|---|
![]() |
Digital Library | Available |
It is often argued that the St. Petersburg paradox shows that von Neumann-Morgenstern utility functions must be bounded. Shapley (1977a,b) has argued that even ordinal utility functions must be bounded. By implication, von Neumann-Morgenstern utility functions must be bounded, but the boundedness issue is independent of the considerations surrounding gambling and the St. Petersburg paradox. That view is challenged in the present paper
Digitized
There are no comments for this item.