Abstract
Expected utility theory is claimed to apply to all rational persons. It is the purpose of this paper to disprove this claim, by exhibiting a class of rational persons whose preference ordering between uncertain prospects conflicts with expected utility.
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© 1983 Springer Science+Business Media Dordrecht
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Blatt, J.M. (1983). Expected Utility Theory does Not Apply to All Rational Men. In: Stigum, B.P., Wenstøp, F. (eds) Foundations of Utility and Risk Theory with Applications. Theory and Decision Library, vol 37. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-1590-4_7
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DOI: https://doi.org/10.1007/978-94-017-1590-4_7
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