Yeah VNM is not supposed to be descriptive, it’s supposed to be prescriptive in the sense that if you’re not obeying VNM axioms, then in theory there’s some way you could change to obey them that would be in your interest in the sense that you would be less exploitable.
Yeah VNM is not supposed to be descriptive, it’s supposed to be prescriptive in the sense that if you’re not obeying VNM axioms, then in theory there’s some way you could change to obey them that would be in your interest in the sense that you would be less exploitable.