Mark_J._Machina

Mark J. Machina

Mark J. Machina

American economist


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.

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Machina Triangle

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

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



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