31. In expected utility theory, the individual does not care how the outcome of losses and gains are framed. 32. The von Neumann Morgenstern utility theorem provides necessary and sufficient conditions under which the expected utility hypothesis holds. 33. Its decision problem is to choose " q " so as to maximize the expected utility of profit: 34. If R > 0, then the expected utility of voting outweighs its costs, and it is reasonable to vote. 35. As such, claims that the expected utility hypothesis does not characterize rationality must reject one of the VNM axioms. 36. Its axiomatization allows for non-additive probabilities and the expected utility of an act is defined using a Choquet integral. 37. Giving What We Can uses an expected value ( or expected utility ) framework when evaluating and comparing charities. 38. The crucial idea of rank-dependent expected utility was to overweight only unlikely extreme outcomes, rather than all unlikely events. 39. For a single game, the analysis of expected utility explains why people often make a logical decision to deal ." 40. :: : : : : Thanks for the interesting link ( which led to the Expected utility hypothesis article ).
