Abstract
A decisive stimulus to the development of formal decision theory was provided by the formulation of the principle of expected gain. We have seen how this principle was used to settle the question of how the stakes of an interrupted gambling game were to be divided. The term ‘moral expectation’ given to the principle at the time reflected a normative interpretation of expected gain: what the player could ‘justly’ expect.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Copyright information
© 1998 Anatol Rapoport
About this chapter
Cite this chapter
Rapoport, A. (1998). Subjective Aspects of Risk. In: Decision Theory and Decision Behaviour. Palgrave Macmillan, London. https://doi.org/10.1057/9780230377769_5
Download citation
DOI: https://doi.org/10.1057/9780230377769_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-39988-8
Online ISBN: 978-0-230-37776-9
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)