expected utility

British  

noun

1. 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

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Example Sentences

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