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Mark J. Machina

From Wikipedia, the free encyclopedia

Mark J. Machina
Born (1954-10-27) October 27, 1954 (age 69)
CitizenshipUnited States
Academic career
InstitutionUniversity of California, San Diego
Alma materMIT
Michigan State University
Doctoral
advisor
Franklin M. Fisher

Mark Joseph Machina (born October 27, 1954) is an American economist noted for work in non-standard decision theory. He is currently a distinguished professor at the University of California, San Diego. The Marschak–Machina triangle, a probability diagram used in expected utility theory, bears his name, along with that of Jacob Marschak.

Machina Triangle

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The Machina Triangle is a way of representing a three dimensional probability vector in a two dimensional space. The probability of a given outcome is denoted by a euclidean distance from the point that represents a lottery (probability).[1]

References

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  1. ^ "EconPort - Handbook - Decision-Making Under Uncertainty - Indifference Curves".
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