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In decision theory, the von Neumann-Morgenstern utility theorem shows that, under certain axioms of rational behavior, a decision-maker faced with risky (probabilistic) outcomes of different choices will behave as if he is maximizing the expected value of some function defined over the potential outcomes at some specified point in the future.
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Collected works. Vol.6 Theory of games, astrophysics, hydrodynamics and meteorology 0 out of 5 stars based on 0 ratings.