Template-type: ReDif-Paper 1.0
Author-Name: Ismail, M.S.
Author-workplace-name: Microeconomics & Public Economics
Title: A paradox of rationality à la von Neumann-Morgenstern
Abstract: We show that there are games and decision situations in which it is not possible for the decision maker to be rational a la von Neumann-Morgenstern in both situations simultaneously, which is the source of the paradox presented in this note. We provide an assumption which is the necessary and sufficient condition for a decision maker to be rational in both situations.
Series: GSBE Research Memoranda
Creation-Date: 20150101
Number: 041
File-URL: https://cris.maastrichtuniversity.nl/ws/files/771058/guid-9c39f908-6649-48ab-b6ff-df7d9ec8efd6-ASSET1.0.pdf
File-Format: application/pdf
File-Size: 381980
Handle: Repec:unm:umagsb:2015041
DOI: 10.26481/umagsb.2015041