utility

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Related to Utility theory: Marginal utility theory

u·til·i·ty

(yū-til'i-tē),
In biomedical ethics and clinical decision analysis, the satisfaction or economic advantage gained from the outcome that results from a particular decision.
References in periodicals archive ?
This is, of course, all analogous to the verdicts of ordinary, expected utility theory on cases of empirical uncertainty.
This particular paper researcher is using two different theory expected utility theory (EUT) and theory of planned behavior (TPB) to understand farmer's adoption decision.
These fairness perceptions can be the result of perceived value, which is the focus of transaction utility theory.
Put this way, utility theory seems adequate to explain the decision.
In Section 2, a multisquad dynamic allocation of the fault tasks based on utility theory is discussed.
There will be evidence of deviation as to the behavior predicted by the Expected Utility Theory in decision-making by respondents as to the Certainty Effect ifthe majority chose alternative A, indicating a preference for the largest gain (since there is no alternative with a gain that is certain) even facing a one percentage point smaller chance of it occurring.
Prospect theory is presented as an alternative to utility theory assumptions that serve as the foundation for agency theory.
50) Because the topic of Continental taxes never seems to work its way into the American tax dialogue, it is passed over here, except to point out the contributions of a few Continental mathematicians to early Utility Theory.
The standard finance theory especially propounded by Von Neumann and Morgenstern (1944) and Savage (1954) in Expected Utility Theory and Subjective Utility Theory respectively, observe that all the investors should invest in the stock market.
Sixth, these results are combined with results of the previous research to arrive at the final ranking of risk-minimization strategies using multiattribute utility theory.
This poses a particular problem for studies that seek to compare the empirical validity of alternative theories of decision under risk: the random lottery incentive mechanism that is theoretically right for one of the theories - expected utility theory - is not incentive compatible for the other theories being compared.
There is also discussion of some of the more theoretical aspects of AI such as Utility Theory.