It is still understood that everyone maximizes expected value and seeks the optimum.
Moreover, the natural way of removing this incompleteness is by appealing to what are in fact controversial ethical claims, such as the claim that the right action is the one that maximizes expected value.
Specifically, in trials in which the sure win was below 200YEN, the expert's advice was the option that maximized expected value.
The parameter that maximizes expected value (EV) is denoted e and is calculated by subtracting the EV of W2 from the EV of W1.
In the context of planning, the simplest way to optimize behavior is to evaluate the outcomes of allowable policies and select the policy that maximizes expected value.
In particular, it contextualizes and provides a possible biological implementation for models based on maximizing expected value, such as model-based or hierarchical reinforcement learning (Ribas-Fernandes et al. 2011; Huys et al. 2012).
In contrast, high carbon prices promote more of a monoculture in order to maximize expected forest value in the long run from carbon sequestration.
Traditional IRP focuses on risk-neutral decision makers, i.e., characterizing replenishment policies that maximize expected total net present value, or equivalently, minimize expected total cost over a planning horizon.
If we had a decent theory of epistemic utility (also known as cognitive utility and cognitive value) perhaps what hypotheses one ought to accept, or what experiments one ought to perform, or how one ought to revise one's corpus of belief in the light of new information, could be determined by the rule: maximize expected epistemic utility (or maximize expected cognitive value).
Why choose acts that maximize expected utility?
