EXPECTED UTILITY

Expected Utility



Expected Utility

Introduction

There is a direct connection between decision making and judgment criteria's that are related to the standards of evaluation in individual life. The value based thinking also comes under the umbrella of personal judgment which is taken by the individuals. Such decisions are generally taken with use of some dialogues and interactive plans which relaxes the process of making decision. Moreover, it helps in the interpretation of the decision process which ideally focuses on the planning base value focused decision process.

Discussion

The concept of making a value focused decision is based on a decision making process which ...