expected utility

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expected utility

[ek′spek·təd yü′til·əd·ē]
(mathematics)
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Calculate the expected utilities for each design alternative based on the sampled values for the failure probabilities and respective failure counts.
That is, optimal base stock level and optimal policies are needed to be derived, but this optimal policy leads to poor expected utilities, and thus heuristic policies such as linear lead time policies should be considered to balance the system's profit and customer's expected utility.
However, if E([A.sub.i]) and E([A.sub.j]) are interval-valued expected utilities, [[delta].sub.ij] is interval-valued as well which may lead to overlapping utility intervals meaning that preference is not that straightforward to conclude.
Such a decision rule requires the decision maker to choose an option that maximizes the minimal expected utilities with respect to the set of multiple priors.
influences) another agent in the joint network of the CSG the expected utilities of actions (a) are normalized (Eq.
As each of the depositors has probability 1/2 of being the first to receive the signals and make a decision, a depositor's ex ante expected utility is the equally weighted expected utilities of depositors 1 and 2 at the beginning of period 1.
as the expected utilities for the second period, contingent on the first-period realization.
Within the framework, both principal and agent are assumed to pursue economic self-interests expressed in the form of expected utilities. Agents are assumed to be more risk-averse than principals because the latter are wealthier (Laffont & Martimort) and, for mathematical simplicity, the principals are typically assumed to be risk-neutral.
The eight means of expected utilities of influence tactics correlate as predicted with the means of the actual and the preferred use of tactics.
According to BDM's theory, the change in expected utility is what informs decisions of war and peace, with stable expected utilities (good or bad) likely to reinforce the status quo.
Given some institution-affecting choice by an Agent at time T and some group of "Patients" affected by the choice, for each individual Patient one can coherently assign subjective expected utilities to the Agent's choices and determine which choice it would maximize subjective expected utility for that Patient, at T, to approve.
Still, a proponent of this reformulation might be prepared to bite this bullet, provided the ordering of expected utilities is right, and I have shown above that Pascal should be pleased with the ordering here.