📚 Save Big on Books! Enjoy 10% off when you spend £100 and 20% off when you spend £200 (or the equivalent in supported currencies)—discount automatically applied when you add books to your cart before checkout! 🛒

Copyright

Martin Osborne; Ariel Rubinstein

Published On

2020-03-27

Page Range

pp. 31-44

Language

  • English

Print Length

13 pages

Preferences under uncertainty

Chapter of: Models in Microeconomic Theory ('He' Edition)(pp. 31–44)
This chapter studies an instance of the model in which an alternative in the set involves randomness regarding the consequence it yields. We refer to these alternatives as lotteries.