Sentence examples for minimum expected utility from inspiring English sources

The Maxmin-EU rule, for instance, recommends picking the action with greatest minimum expected utility (see Gilboa and Schmeidler 1989; Walley 1991).

Invoking the parameterized distribution formulation of agency theory, the paper develops axiomatic foundations of the principal's and agent's choice behaviors that are representable by the maximization of the minimum expected utility over action-dependent sets of priors.

The \(\alpha\ -Maxmin rule, by contrast, recommends taking the action with the greatest \alpha\ -Maxminhted sum of the minimum and maximum expected utilities associated with it.

The relative weights for the minimum and maximum expected utilities can be thought of as reflecting either the decision maker's pessimism in the face of uncertainty or else her degree of caution (see Binmore 2009).

The maximum expected utility is reached when we set (12).

These values depend upon the minimum level of expected utility of the power plants and the government's green policy.

Bettors will always choose (kin K) with minimum (pi _k) so that their expected utility is maximized.

First, the expected utility of a lottery is equal to the expectation of the expected utilities of its prizes.

It's when expected utility matches remembered utility that we think we know precisely what we want, Schwartz writes.

Estimated desirability is expected utility.

Why choose acts that maximize expected utility?