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expected utility

British

noun

statistics the weighted average utility of the possible outcomes of a probabilistic situation; the sum or integral of the product of the probability distribution and the utility function

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Example Sentences

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Rational agents act intelligently, he tells us, to the degree that their actions aim to achieve their objectives, hence maximizing expected utility.

From Nature • Oct. 1, 2019

Psychologist Paul Slovic and his colleagues are responsible for much of the overwhelming evidence that people evaluate risk-based situational features that evoke emotion rather than on expected utility.

From Slate • Jun. 24, 2016

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023