# name
The Von Neumann-Morgenstern theory and rational choice

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Treballs Finals de Grau de Matemàtiques, Facultat de Matemàtiques, Universitat de Barcelona, Any: 2020, Director: José Manuel Corcuera Valverde

# metadata.dc.description.abstract[].value
[en] Expected Utility Theory (EUT) is an axiomatic theory of choice under risk that has held a central role in economic theory since the 1940s. Throughout this work we will give a thorough description of the von Neumann-Morgenstern theory, which is the cornerstone of EUT and Games Theory. Using the theory and its axiomatisation, we will review its main drawbacks in order to give a proper model of Rational Choice. Furthermore, we will briefly introduce Risk Management, which is a crucial process used to make investment decisions. The process consists in identifying and analysing the amount of risk involved in an investment, and
either accepting that risk or mitigating it.

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cc-by-nc-nd (c) Daniel Juan Carreño, 2020

# metadata.dc.source[].value
Treballs Finals de Grau (TFG) - Matemàtiques

# metadata.dc.title[].value
The Von Neumann-Morgenstern theory and rational choice