VNM Theorem

TagLast edit: 21 Sep 2020 16:54 UTC by abramdemski

The VNM theorem is one of the classic results of Bayesian decision theory. It establishes that, under four assumptions, a preference relation must be representable by maximum-expectation decision making over some real-valued utility function. (In other words, rational decision making is best-average-case decision making.)

Money pump­ing: the ax­io­matic approach

Stuart_Armstrong5 Nov 2009 11:23 UTC
26 points
93 comments5 min readLW link

VNM ex­pected util­ity the­ory: uses, abuses, and interpretation

Academian17 Apr 2010 20:23 UTC
35 points
51 comments10 min readLW link

VNM agents and lot­ter­ies in­volv­ing an in­finite num­ber of pos­si­ble outcomes

AlexMennen21 Feb 2013 21:58 UTC
26 points
8 comments3 min readLW link

Why you must max­i­mize ex­pected utility

Benya13 Dec 2012 1:11 UTC
50 points
76 comments21 min readLW link

Con­se­quen­tial­ists: One-Way Pat­tern Traps

David Udell16 Jan 2023 20:48 UTC
54 points
3 comments14 min readLW link

An At­tempt at Prefer­ence Uncer­tainty Us­ing VNM

[deleted]16 Jul 2013 5:20 UTC
15 points
33 comments6 min readLW link

Don’t Get Dis­tracted by the Boilerplate

johnswentworth26 Jul 2018 2:15 UTC
58 points
16 comments2 min readLW link

Con­se­quences of ar­bi­trage: ex­pected cash

Stuart_Armstrong13 Nov 2009 10:32 UTC
17 points
28 comments3 min readLW link

Gen­er­al­iz­ing Foun­da­tions of De­ci­sion Theory

abramdemski4 Mar 2017 16:46 UTC
13 points
9 comments10 min readLW link

Ver­ify­ing vNM-ra­tio­nal­ity re­quires an ontology

jeyoor13 Mar 2019 0:03 UTC
24 points
5 comments1 min readLW link

Con­ti­nu­ity ax­iom of vNM

Stuart_Armstrong30 Jul 2014 16:27 UTC
5 points
13 comments1 min readLW link

Com­pu­ta­tional effi­ciency rea­sons not to model VNM-ra­tio­nal prefer­ence re­la­tions with util­ity functions

AlexMennen25 Jul 2018 2:11 UTC
16 points
5 comments3 min readLW link

The Case for Convexity

Jesse Richardson9 Aug 2023 14:09 UTC
19 points
3 comments1 min readLW link

Geo­met­ric Ra­tion­al­ity is Not VNM Rational

Scott Garrabrant27 Nov 2022 19:36 UTC
146 points
26 comments3 min readLW link
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