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Utility theory Utility theory

Utility theory - PowerPoint Presentation

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Uploaded On 2017-05-22

Utility theory - PPT Presentation

U Ogt R utility maps from outcomes to a real number represents preferences over outcomes means indifference We need a way to talk about how preferences interact with uncertainty A lottery ID: 550976

lottery utility risk expected utility lottery expected risk probability ticket buy marginal 200 5000 car lotteries 1500 money outcomes

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