only pay, comparatively speaking, a very moderate amount. This paradox was 'solved' using cardinal utility. This article … of the same order as people are prepared to offer to play the game. There is thus no paradox. Cardinal utility is not …

In this paper, we extend von Neumann and Morgenstern’s expected utility approach to a non-commutative probability … generalization of the expected utility theorem. Our generalization allows for decision makers to make an intuitive distinction … traditional expected utility theory (e.g., Allais paradox, etc.) to be solved or better understood. Copyright Springer-Verlag 2013 …