Flashcards
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Cards in this deck (5)
- 1How many outcomes does a real lottery include?0
- 2How many outcomes does a degenerate lottery include?1
- 3How many real lotteries among the outcomes does a simple lottery include?0
- 4How many real lotteries among the outcomes does a compound lottery include?at least 1
- 5Name the 4 Neumann-Morgensern Axioms- Completeness (Actor can compare two lotteries)
- Transitivity (If L1 > L2 and L2 > L3 --> L1 > L3)
- Continuity (
- Independence
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- Economics III Flashcards on Untitled, created by Maximilian Zeyda on 25/06/2017.
- Created by
- Maximilian Zeyda
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