000 | 02389nam a2200409 i 4500 | ||
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001 | CR9781108754750 | ||
003 | UkCbUP | ||
005 | 20240508141511.0 | ||
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007 | cr|||||||||||| | ||
008 | 181129s2022||||enk o ||1 0|eng|d | ||
020 | _a9781108754750 (ebook) | ||
020 | _z9781108718950 (paperback) | ||
040 |
_aUkCbUP _beng _erda _cUkCbUP |
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050 | 0 | 0 |
_aBD184 _b.G87 2022 |
082 | 0 | 0 |
_a121/.6 _223/eng/20220912 |
100 | 1 |
_aGustafsson, Johan E., _eauthor. |
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245 | 1 | 0 |
_aMoney-pump arguments / _cJohan E. Gustafsson. |
264 | 1 |
_aCambridge, United Kingdom ; New York, NY : _bCambridge University Press, _c2022. |
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300 |
_a1 online resource (93 pages) : _bdigital, PDF file(s). |
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336 |
_atext _btxt _2rdacontent |
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_acomputer _bc _2rdamedia |
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_aonline resource _bcr _2rdacarrier |
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490 | 1 |
_aCambridge elements. Elements in decision theory and philosophy, _x2517-4827 |
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500 | _aTitle from publisher's bibliographic system (viewed on 26 Sep 2022). | ||
506 | 0 |
_aOpen Access. _fUnrestricted online access _2star |
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505 | 0 | _aMoney-pump arguments -- Acyclicity -- Completeness -- Transitivity -- Independence -- Continuity -- Against resolute choice -- Against infinite money pumps. | |
520 | _aSuppose that you prefer A to B, B to C, and C to A. Your preferences violate Expected Utility Theory by being cyclic. Money-pump arguments offer a way to show that such violations are irrational. Suppose that you start with A. Then you should be willing to trade A for C and then C for B. But then, once you have B, you are offered a trade back to A for a small cost. Since you prefer A to B, you pay the small sum to trade from B to A. But now you have been turned into a money pump. You are back to the alternative you started with but with less money. This Element shows how each of the axioms of Expected Utility Theory can be defended by money-pump arguments of this kind. This title is also available as Open Access on Cambridge Core. | ||
650 | 0 | _aDecision making. | |
650 | 0 | _aRevealed preference theory. | |
650 | 0 | _aUtility theory. | |
650 | 0 | _aPractical reason. | |
650 | 0 | _aLogic, Symbolic and mathematical. | |
776 | 0 | 8 |
_iPrint version: _z9781108718950 |
830 | 0 |
_aCambridge elements. _pElements in decision theory and philosophy, _x2517-4827. |
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856 | 4 | 0 | _uhttps://doi.org/10.1017/9781108754750 |
999 |
_c38240 _d38240 |