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Money-Pump Arguments.
【Open Accessタイトル】
・ISBN 978-1-108-71895-0 paper GB£ 18.00
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電子版あり 大学・学術機関向け電子ブック（eBook）ISBN 978-1-108-75475-0
| 著者・編者 | Gustafsson, Johan E., |
|---|---|
| シリーズ | Elements in Decision Theory and Philosophy |
| 出版社 | (Cambridge U. Pr., UK) |
| 出版年月 | 2022.06 |
| ページ数 | 75 pp. |
| 言語 | ENG |
| ニュース番号 | ＜681-72＞ |
解説
Suppose that you prefer A to B, B to C, and C to A. Your preferences violate Expected Utility Theory by being cyclic. Money-pump arguments offer a way to show that such violations are irrational. Suppose that you start with A. Then you should be willing to trade A for C and then C for B. But then, once you have B, you are offered a trade back to A for a small cost. Since you prefer A to B, you pay the small sum to trade from B to A. But now you have been turned into a money pump. You are back to the alternative you started with but with less money. This Element shows how each of the axioms of Expected Utility Theory can be defended by money-pump arguments of this kind. This title is also available as Open Access on Cambridge Core.