Examlex
Which theory of work motivation most explicitly involves a comparison with others?
Probability
A measure of the likelihood of a given event happening, often expressed as a number between 0 and 1.
Von Neuman-Morgenstern
Refers to the theory of expected utility, formulated by John von Neumann and Oskar Morgenstern, which addresses choices made under conditions of risk.
Expected Utility Function
A mathematical expression that represents a consumer's preference for uncertain outcomes, weighting each outcome by its probability of occurrence.
Von Neuman-Morgenstern Utility Function
A utility function that accounts for the existence of risk and uncertainty, allowing for the calculation of expected utility.
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