About the machina paradox and the expected utility model

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This question is related to this question about the Machina paradox and about the expected utility model. In this question, I'd like to know a little more about various or even competing ways of specifying utility and decision making. It'd be nice if we could formulate a list of different formulations. To start, I suppose there is the Von Neumann Morgenstern expected utility model, Savage's subjective expected utility model, or Prospect theory.

Is there anything else that is commonly used?

Reference no: EM13838553

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