
The History and Methodology of Expected Utility
Ivan Moscati(Author)
Cambridge University Press
Published on 31. August 2023
Book
Paperback/Softback
90 pages
978-1-009-19826-4 (ISBN)
Description
This Element offers an accessible but technically detailed review of expected utility theory (EU), which is a model of individual decision-making under uncertainty that is central for both economics and philosophy. The Element's approach falls between the history of ideas and economic methodology. At the historical level, it reviews EU by following its conceptual evolution from its original formulation in the eighteenth century through its transformations and extensions in the mid-twentieth century to its more recent supersession by post-EU theories such as prospect theory. In reconstructing the history of EU, it focuses on the methodological issues that have accompanied its evolution, such as whether the utility function and the other components of EU correspond to actual mental entities. On many of these issues, no consensus has yet been reached, and in this Element the author offers his view on them.
More details
Series
Language
English
Place of publication
Cambridge
United Kingdom
Target group
College/higher education
Edition type
New edition
Product notice
Paperback (trade)
Illustrations
Worked examples or Exercises
Dimensions
Height: 229 mm
Width: 152 mm
Thickness: 5 mm
Weight
132 gr
ISBN-13
978-1-009-19826-4 (9781009198264)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions

Ivan Moscati
History and Methodology of Expected Utility
E-Book
08/2023
Cambridge University Press
€20.99
Available for download

Ivan Moscati
The History and Methodology of Expected Utility
E-Book
08/2023
Cambridge University Press
€20.99
Available for download
Person
Author
Universita degli Studi dell'Insubria, Italy and Baffi Carefin, Universita Bocconi, Milan
Content
1. Introduction; 2. Bernoulli's EU; 3. Fortunes and misfortunes of Bernoulli's EU; 4. Von Neumann and Morgenstern's EU: presentation; 5. Von Neumann and Morgenstern's EU: discussion; 6. Savage's EU; 7. Beyond EU: prospect theory; 8. A very short conclusion; References.