of references to CV as a risk measure is perplexing in light of the absence of utility theoretic underpinnings …

infinite utility streams which are not necessarily complete. Both are excluded by the traditional (weak) anonymity axiom. We …

, or temperate) von Neumann-Morgenstern utility functions. The very idea to devise those conditions is based on the reverse … claim of an old observation by Arrow that a risk-averse expected-utility maximizer will always accept a sufficiently small … stake in any positive expected-value bet if her von Neumann-Morgenstern utility function is differentiable …

standard utility functions used by political scientists in predicting voter choice involve just this type of gradual loss of … utility. Consequently, I suggest that the morally convicted have a unique utility function, which is an area of high, constant … utility (representing the morally right policies) followed by a steep, convex drop to an area of low, constant utility …

decision making. By using tools such as preference, value, and utility functions, readers will learn state-of-the-art methods …