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dc.contributor.authorPope, Robinen_US
dc.description.abstractIt is here shown that the extension of expected utility theory to multiple periods destroys the axiomatic base by introducing timing contradictions in what the chooser knows at a single time point. It is shown that some of these timing contradictions remain even if, as Samuelson (1952) proposed, no segment of the outcome space (to which utility attaches) commences before all risk is passed.en_US
dc.relation.ispartofseriesBonn econ discussion papers 2006,30en_US
dc.subject.keywordexpected utility theoryen_US
dc.subject.keywordrank dependent theoriesen_US
dc.subject.keywordsingle perioden_US
dc.subject.keywordmultiple perioden_US
dc.subject.keywordtiming contradictionsen_US
dc.subject.keyworddegree of knowledge aheaden_US
dc.titleMultiple Periods Destroy the Axiomatic Base of Expected Utility Theory and its Standard Generalisationsen_US
dc.typeWorking Paperen_US
Appears in Collections:Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn

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