Utility Theory

  • Utility Theory, which in essence, explains people’s choices and motivations by the utility of the outcomes.
  • The Fourfold PatternThe Fourfold Pattern

    A 2x2 table,

    with X-axis is Gain&Loss,
    Y-axis is Low&High Probability.

    Top-Left

    HighProb-Gain is Utility Theory
    ...

Source

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