1. Axiomatic Foundations of Expected Utility and Subjective Probability 1
Edi Karni
1.1 Introduction 1
1.2Expected Utility Under Risk 6
1.3Expected Utility Under Uncertainty and Subjective Probabilities 10
1.4Bayesian Decision Theory and the Representation of Beliefs 23
1.5Expected Utility Theory with Incomplete Preferences 30
1.6 Conclusion 37
Acknowledgments 37
References 38
2. Rationality and Dynamic Consistency Under Risk and Uncertainty 41
Peter J. Hammond and Horst Zank
2.1Introduction and Outline 42
2.2Static Rationality with Deterministic Consequences 47
2.3Static Rationality with Risky Consequences 51
2.4 ...
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