Von Neumann–Morgenstern utility theorem
id:
von-neumann-morgenstern-utility-theorem-166-18088684
title:
Von Neumann–Morgenstern utility theorem
text:
In decision theory, the von Neumann–Morgenstern (VNM) utility theorem demonstrates that rational choice under uncertainty involves making decisions that take the form of maximizing the expected value of some cardinal utility function. This function is known as the von Neumann–Morgenstern utility function. The theorem forms the foundation of expected utility theory. In 1947, John von Neumann and Oskar Morgenstern proved that any individual whose preferences satisfied four axioms has a utility fun
brand slug:
wiki
category slug:
encyclopedia
description:
Any individual whose preferences satisfy four axioms has a utility function
original url:
https://en.wikipedia.org/wiki/Von_Neumann%E2%80%93Morgenstern_utility_theorem
date created:
2010-04-10T00:37:39Z
date modified:
2024-08-30T02:14:28Z
main entity:
{"identifier":"Q4358367","url":"https://www.wikidata.org/entity/Q4358367"}
image:
fields total:
13
integrity:
15