Tag: Expected Utility Theory
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How to Make Rational Choices
Unless there are overriding moral objections, one should make instrumentally rational choices—choices that best serve one’s ends full stop. Expected utility (EU) theory is generally accepted as a normative theory of (instrumentally) rational choice under risk. EU theory advises agents to rank their choice options (from least to most choiceworthy) according to their EU, where…
David Robert's Blog 