Editing Cardinal utility (section)

=== Expected utility theory ===
{{Details|Expected utility theory}}
This type of indices involves choices under risk. In this case, {{math|''A'', ''B''}}, and {{math|''C''}}, are [[Lottery (probability)|lotteries]] associated with outcomes. Unlike cardinal utility theory under certainty, in which the possibility of moving from preferences to quantified utility was almost trivial, here it is paramount to be able to map preferences into the set of real numbers, so that the operation of mathematical expectation can be executed. Once the mapping is done, the introduction of additional assumptions would result in a consistent behavior of people regarding fair bets. But fair bets are, by definition, the result of comparing a gamble with an expected value of zero to some other gamble. Although it is impossible to model attitudes toward risk if one doesn't quantify utility, the theory should not be interpreted as measuring strength of preference under certainty.<ref>{{cite journal |last=Shoemaker |first=Paul |date=June 1982 |title=The Expected Utility Model: Its Variants, Purposes, Evidence and Limitations |journal=Journal of Economic Literature |volume=20 |issue=2 |pages=529–563 |jstor=2724488}}</ref>