That for any bet with an infinitesimally small value of p, there is a value of u high enough that I would take it.
That’s not one of the axioms. In fact, none of the axioms mention u at all.
True, but they must imply it in order to imply the expected utility algorithm.
That for any bet with an infinitesimally small value of p, there is a value of u high enough that I would take it.
That’s not one of the axioms. In fact, none of the axioms mention u at all.
True, but they must imply it in order to imply the expected utility algorithm.