# A Savage-Like Axiomatization for Nonstandard Expected Utility

## TL;DR

This paper introduces a Savage-like axiomatization for nonstandard expected utility theory, relaxing Savage's sixth axiom to broaden the theoretical framework for decision-making under uncertainty.

## Contribution

It presents a novel axiomatization of nonstandard expected utility theory, extending Savage's foundational work by weakening a key axiom.

## Key findings

- A new axiomatization aligns with nonstandard expected utility models
- The approach broadens the theoretical understanding of decision-making
- It maintains consistency with Savage's original framework

## Abstract

Since Leonard Savage's epoch-making "Foundations of Statistics", Subjective Expected Utility Theory has been the presumptive model for decision-making. Savage provided an act-based axiomatization of standard expected utility theory. In this article, we provide a Savage-like axiomatization of nonstandard expected utility theory. It corresponds to a weakening of Savage's 6th axiom.

---
Source: https://tomesphere.com/paper/1701.03500