Axions for Expected Utility in n-Person Games.
Abstract
The von Neumann and Morgenstern utility axioms apply to an individual's preferences on a set of probability distributions that is closed under convex linear combinations. However, in a rectangular game situation, the probability distributions on outcomes that correspond to choices of mixed strategies for the players is not generally closed under convex combinations. Axioms are specified for an individual's preference relation on the space of mixed strategies for the n players. These axioms are necessary and sufficient for a multilinear expected utility model that reduces to the von Neumann-Morgenstern form. The utility function is unique up to a positvie affine transformation. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 01, 1976
- Accession Number
- ADA029657
Entities
People
- Peter C. Fishburn
Organizations
- Pennsylvania State University