Difference between revisions of "Expected utility"

From Lesswrongwiki
Jump to: navigation, search
m
m (Stuart Armstrong's series)
Line 5: Line 5:
  
 
Humans, of course, are a different story.
 
Humans, of course, are a different story.
 +
 +
==Blog posts==
 +
 +
=====By Stuart Armstrong:=====
 +
*[http://lesswrong.com/lw/1cv/extreme_risks_when_not_to_use_expected_utility/ Extreme Risks: When Not to Use Expected Utility]
 +
*[http://lesswrong.com/lw/1d5/expected_utility_without_the_independence_axiom/ Expected utility without the Independence Axiom]
 +
*[http://lesswrong.com/lw/1dr/money_pumping_the_axiomatic_approach/ Money pumping: the Axiomatic Approach]
 +
*[http://lesswrong.com/lw/1ga/in_conclusion_in_the_land_beyond_money_pumps_lie/ In conclusion: in the land beyond money pumps lie extreme events]
  
 
==See also==
 
==See also==

Revision as of 12:02, 25 November 2009

Smallwikipedialogo.png
Wikipedia has an article about

Expected utility is the expected value of a utility function.

Von Neumann and Morgenstern proved the expected utility theorem, which says that when a rational agent chooses between different "gambles" (probability distributions over outcomes), the utility of such a gamble can always be seen as the expected utility of the gamble's outcome.

Humans, of course, are a different story.

Blog posts

By Stuart Armstrong:

See also