Equity in risk bearing
Operations research, vol. 30, no. 2, 1982, pp. 412–414
Abstract
Von Neuman-Morgenstern utility functions are found incompatible with valuing fairness and lead to an invalid conclusion about risk proneness.
Operations research, vol. 30, no. 2, 1982, pp. 412–414
Von Neuman-Morgenstern utility functions are found incompatible with valuing fairness and lead to an invalid conclusion about risk proneness.