Abstract
One strategy is better than another if it brings the player more. More of what? Clearly, one uses some criterion of ‘utility’, of something that is being maximized. Moreover, since the opponent’s response or the future in general is uncertain, the player does not know a unique result of his strategy but rather expects various possible results, some with greater, some will smaller degrees of belief or ‘(subjective) probabilities’.
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© 1974 D. Reidel Publishing Company, Dordrecht, Holland
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Marschak, J. (1974). Scaling of Utilities and Probabilities (1954). In: Economic Information, Decision, and Prediction. Theory and Decision Library, vol 7-1. Springer, Dordrecht. https://doi.org/10.1007/978-94-010-9276-0_4
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DOI: https://doi.org/10.1007/978-94-010-9276-0_4
Publisher Name: Springer, Dordrecht
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