Fishburn, Peter C. - In: Handbook of game theory with economic applications : …, (pp. 1397-1435). 1994
Utility and subjective probability involve the systematic study of people's preferences and beliefs, including … psychology. Utility theory is primarily concerned with properties of a binary relation on a set X , where X could be a set of … as x is preferred to y . The formal development of utility and subjective probability is based on the notion of a binary …
