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expected utility theorem

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  • Expected utility hypothesis — In economics, game theory, and decision theory the expected utility hypothesis is a theory of utility in which betting preferences of people with regard to uncertain outcomes (gambles) are represented by a function of the payouts (whether in… …   Wikipedia

  • Utility — This article is about the economic concept. For other uses, see Utility (disambiguation). Part of a series on Utilitarianism …   Wikipedia

  • Mutual fund separation theorem — In portfolio theory, a mutual fund separation theorem, mutual fund theorem, or separation theorem is a theorem stating that, under certain conditions, any investor s optimal portfolio can be constructed by holding each of certain mutual funds in… …   Wikipedia

  • Dominated convergence theorem — In measure theory, Lebesgue s dominated convergence theorem provides sufficient conditions under which two limit processes commute, namely Lebesgue integration and almost everywhere convergence of a sequence of functions. The dominated… …   Wikipedia

  • probability theory — Math., Statistics. the theory of analyzing and making statements concerning the probability of the occurrence of uncertain events. Cf. probability (def. 4). [1830 40] * * * Branch of mathematics that deals with analysis of random events.… …   Universalium

  • Mechanism design — The Stanley Reiter diagram above illustrates a game of mechanism design. The upper left space Θ depicts the type space and the upper right space X the space of outcomes. The social choice function f(θ) maps a type profile to an outcome. In games… …   Wikipedia

  • The Nature of Rationality — is an exploration of practical rationality written by Robert Nozick and published in 1993. It views human rationality as an evolutionary adaptation. Its delimited purpose and function may be responsible for biases and blind spots, possibly… …   Wikipedia

  • game theory — a mathematical theory that deals with strategies for maximizing gains and minimizing losses within prescribed constraints, as the rules of a card game: widely applied in the solution of various decision making problems, as those of military… …   Universalium

  • Tactical voting — In voting systems, tactical voting (or strategic voting or sophisticated voting) occurs when a voter supports a candidate other than his or her sincere preference in order to prevent an undesirable outcome. It has been shown by the Gibbard… …   Wikipedia

  • Correlated equilibrium — A solution concept in game theory Relationships Superset of Nash equilibrium Significance Proposed by …   Wikipedia

  • Bayesian experimental design — provides a general probability theoretical framework from which other theories on experimental design can be derived. It is based on Bayesian inference to interpret the observations/data acquired during the experiment. This allows accounting for… …   Wikipedia

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