{"product_id":"the-history-and-methodology-of-expected-utility-paperback-9781009198264","title":"The History and Methodology of Expected Utility (Paperback \/ softback) 9781009198264","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eThe History and Methodology of Expected Utility\u003c\/font\u003e\u003cbr\u003e\r\n\r\n\r\n\u003c\/p\u003e\n\u003cp\u003e\u003cem\u003eThis Element reviews Expected Utility theory, reconstructs the intense debates about its validity, and compares it to Prospect Theory.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eIvan Moscati (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781009198264, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback \/ softback, published 31 August 2023\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e75 pages\u003cbr\u003e27 x 18 x 0.7 cm, 0.15 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eThis 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.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e1. Introduction\u003cbr\u003e 2. Bernoulli's EU\u003cbr\u003e 3. Fortunes and misfortunes of Bernoulli's EU\u003cbr\u003e 4. Von Neumann and Morgenstern's EU: presentation\u003cbr\u003e 5. Von Neumann and Morgenstern's EU: discussion\u003cbr\u003e 6. Savage's EU\u003cbr\u003e 7. Beyond EU: prospect theory\u003cbr\u003e 8. A very short conclusion\u003cbr\u003e References.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Philosophy [\u003ca title=\"See our other books on Philosophy\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Philosophy%20%5BHP%5D%22\"\u003eHP\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46334653366552,"sku":"9781009198264","price":17.19,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9781009198264i_5e93f8b4-cb48-4dd7-95a8-196bf3bdfa27.jpg?v=1696791378","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/the-history-and-methodology-of-expected-utility-paperback-9781009198264","provider":"Freshly Printed Books","version":"1.0","type":"link"}