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critiques to utilitarianism by satisfying the following three fairness axioms: possibility of trade-offs sets a limit to the …
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Can luck predict risk-taking behavior in games of chance? Economists have not widely studied this issue although … good and bad luck outcomes in a simple repeated risky investment game affect risk-taking behavior in the following rounds … of the same game where the outcome (luck) in the game is determined by the throwing of a die after each round. The …
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Given n agents with von Neumann-Morgenstern utility functions who wish to divide m commodities, consider the n-person noncooperative game with strategies consisting of concave, increasing von Neumann-Morgenstern utility functions, and whose outcomes are the relative utilitarian solution. It is...
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