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Uniqueness of U The utility function U of an individual can be multiplied by a positive constant without affecting the decision maker's preferences over lotteries

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Uniqueness of U The utility function U of an individual can be multiplied by a positive constant without affecting the decision maker's preferences over lotteries Similarly, his/her preferences would not be affected by adding a constant to the utility U Hence, we have two degrees of freedom in determining the values of U

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