The Foundations of a Positive Theory of Choice Involving Risk and a Criticism of the Postulates and Axioms of the American School (1952)

Abstract

This is the direct English translation, which appears for the first time, of 'Fondements d'une Théorie Positive des Choix Comportant un Risque et Critique des Postulats et Axiomes de L'Ecole Americaine' which was published in French as Memoir III annexed to Econometrie, Colloques Internationaux du Centre National de la Recherche Scientifique, Vol. XL, Paris, 1953, pp.257–332 (see p.447 below).