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cardinalization

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Examples

  • However, a variety of alternative mathematical accounts of maximization lend themselves to Von Neumann-Morgenstern cardinalization of utility; and the empirical adequacy of game theory would be called into question only if we thought that people's behavior is not generally describable by means of cardinal VNMufs on a suitably liberal interpretation of these (i.e., as opposed to a narrow interpretation in which VNM utility is defined strictly in terms of EUT).

    Game Theory Ross, Don 2006

  • This bit of logic is the crucial insight behind von Neumann & Morgenstern's (1947) solution to the cardinalization problem.

    Game Theory Ross, Don 2006

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