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____________________ is concerned with what an identity is allowed to do.
Von Neumann-Morgenstern
Pertains to a theorem used in expected utility theory, which provides an axiomatic basis for the selection of optimal choices under uncertainty.
Utility Function
An economic model that quantifies the satisfaction or happiness a consumer receives from consuming goods and services.
Expected Utility
A theory in economics that models how agents choose among risky alternatives to maximize their satisfaction.
Income
Receipts garnered on a habitual basis as a result of engaging in work or investment.
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