The postulates of rational preference suggested by Von Neumann and Morgenstern have been defended as descriptive or empirical generalizations and as normative principles. It is argued that the postulates are inaccurate empirical generalizations and unacceptable normative principles.

The Joumal 0f Philosophy, Vol. 77, No. 11, Seventy—Seventh Annual Meeting American Philosophical Association, Eastern Division (Nov., 1980), 691-699.