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War will occur when both states' expected utilities are positive.
That is what economists call the expected utility of your vote.
How does robust decision making differ from traditional expected utility analysis?
This is reflected in the theory of subjective expected utility.
All individuals are assumed to try to maximize the expected utility of their actions.
Proponents of this view suggest using an expected utility calculation instead.
Consequently, a choice based on maximizing the expected utility is also impossible.
Recently, expected utility theory has been extended to arrive at more behavioral decision models.
These are averaged to obtain the expected utility given a hypothetical sample.
Expected utility theory is criticized by behavioral decision science.
Choice under uncertainty is often characterized as the maximization of expected utility.
One interpretation is that expected utility theory does not properly describe actual human choices.
The subjective expected utility theory has been applied to contexts beyond fear appeals.
The wage is set by the union executive to maximize the expected utility of the median voter.
For the past 30 years almost all economic analysis of decision making in situations of risk and uncertainty has been based on expected utility theory.
Preference relations can also be applied to a space of simple lotteries, as in expected utility theory.
Prospect theory is an example of generalized expected utility theory.
Which decision you prefer depends on which subjective expected utility is higher.
In effect, it portrays people as nothing more than "maximizers" of their own "expected utility."
Like any mathematical model, expected utility theory is an abstraction and simplification of reality.
The gain in expected utility for a given vote is given by:
Its decision problem is to choose q so as to maximize the expected utility of profit:
Intertemporal choice research studies the expected utility that humans assign to events occurring at different times.
There are four axioms of the expected utility theory that define a rational decision maker.
In other words, is a correlated equilibrium if no player can improve his expected utility via a strategy modification.
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