The results are on the “expected” part of expected utility, not on the “utility” part. Independence is overstrong; replacing it with the somewhat coupling to an expectation maximizer is much weaker. And yet in the limit it mimics the expectation requirement, which is very useful result.
(dropping independence completely leaves you flailing all over the place)
The results are on the “expected” part of expected utility, not on the “utility” part. Independence is overstrong; replacing it with the somewhat coupling to an expectation maximizer is much weaker. And yet in the limit it mimics the expectation requirement, which is very useful result.
(dropping independence completely leaves you flailing all over the place)