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This paper is a revised version of the first lecture published in Kenneth J. Arrow, Aspects of the Theory of Risk-Bearing (Yrjö Jahnsson Lectures, Yrjö Jahnsson Foundation) Helsinki 1965. It is reprinted here with the permission of Yrjö Jahnsson Foundation.
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Arrow, K.J. Exposition of the theory of choice under uncertainty. Synthese 16, 253–269 (1966). https://doi.org/10.1007/BF00485082
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DOI: https://doi.org/10.1007/BF00485082