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Moneypump Arguments Johan E Gustafsson

Name: Moneypump Arguments Johan E Gustafsson
SKU: BELL-46371816
Price: 31.00 USD
Availability: InStock
Rating: 5 (18 reviews)

SKU: BELL-46371816

$ 31.00 ~~$ 45.00~~ (-31%)

5.0

18 reviews

Moneypump Arguments Johan E Gustafsson instant download after payment.

Publisher: Cambridge University Press

File Extension: PDF

File size: 1.29 MB

Author: Johan E. Gustafsson

ISBN: 9781108754750, 1108754759

Language: English

Year: 2022

Product desciption

Moneypump Arguments Johan E Gustafsson by Johan E. Gustafsson 9781108754750, 1108754759 instant download after payment.

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.