Theoretical justification of meu ◆[ Theorem]: Assume we have an agent whose preferences over lotteries satisfy the axioms (A1)-(A6). Then there exists a function U: O-R, such that for any Pair of lotteries T, T', we have that t < 'iff U(r)<U(T') here we definerecursively) the expected utility of any lottery as 1 丌k:k )=∑aU(x) =1 MLA 2011, Tsinghua UniversityTheoretical Justification of MEU [Theorem]: Assume we have an agent whose preferences over lotteries satisfy the axioms (A1)-(A6). Then there exists a function , such that for any pair of lotteries , we have that iff , where we define (recursively) the expected utility of any lottery as 12 MLA 2011, Tsinghua University