Accession Number:

ADA029657

Title:

Axions for Expected Utility in n-Person Games.

Descriptive Note:

Interim rept.,

Corporate Author:

PENNSYLVANIA STATE UNIV UNIVERSITY PARK COLL OF BUSINESS ADMINISTRATION

Personal Author(s):

Report Date:

1976-09-01

Pagination or Media Count:

22.0

Abstract:

The von Neumann and Morgenstern utility axioms apply to an individuals 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 individuals 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

Subject Categories:

  • Statistics and Probability

Distribution Statement:

APPROVED FOR PUBLIC RELEASE