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Topic: Maximum expected utility


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In the News (Sat 22 Nov 08)

  
  John T. Langton : Utility Theory   (Site not responding. Last check: 2007-10-14)
Utility theory is used in decision analysis to determine the EU (estimated utility) of some action based on the U (utility) of its possible result(s).
utility function is when there is a lottery (uncertainty involved), value function is when you're evaluating the worth of actual states.
A value for backgammon however is a utility function since the rolling of the dice brings in uncertainty, probability, and chance.
www.cs.brandeis.edu /~psyc/ai/decision/utility.htm   (1267 words)

  
 Maximum Expected Utility by MCMC Jacquier (via CobWeb/3.1 planetlab2.ece.ucdavis.edu)   (Site not responding. Last check: 2007-10-14)
MEU problems require both integration, to compute the expected utility, and optimization, to find the optimal decision.
In most cases of interest, the expected utility does not have a analytical solution, even for a given value of the decision.
The resulting MCMC algorithm is very efficient, nearly reducing to a pure Gibbs sampler, due to the properties of utility kernels.
neumann.hec.ca.cob-web.org:8888 /pages/eric.jacquier/papers/abs.mcmceu.200605.html   (159 words)

  
 SSRN-Economy-Wide Bond Default Rates: A Maximum Expected Utility Approach by Sven Sandow, Craig Friedman, Mark Gold, ...
We estimate the conditional probability distribution of this default rate as a function of a weighted average bond rating, a lagged default rate and a preliminary predictor that is based on lagged new issuance.
We measure the model's performance by the out-of-sample expected utility.
Keywords: maximum expected utility, bond default rates, entropy
papers.ssrn.com /sol3/papers.cfm?abstract_id=874755   (196 words)

  
 Maximum Expected Utility (via CobWeb/3.1 planetlab2.ece.ucdavis.edu)   (Site not responding. Last check: 2007-10-14)
An agent is rational if it chooses the principle of Maximum Expected Utility, that means it chooses the action that yields the highest expected utility, averaged over all the possible outcomes of the action
It is possible to calculate the expected utility EU(AE) of action A given evidence E, using the following formula:
U(S) is the notation of the agent's utility for state S
www.metzgerei-derschang.de.cob-web.org:8888 /derschang.de/projects/studium/Saar_Course2001/ppt/mderschang/html/sld002.htm   (104 words)

  
 Maximum Expected Utility over Savage Acts with a Set of Priors (via CobWeb/3.1 planetlab2.ece.ucdavis.edu)   (Site not responding. Last check: 2007-10-14)
Maximum Expected Utility over Savage Acts with a Set of Priors (via CobWeb/3.1 planetlab2.ece.ucdavis.edu)
Maximum Expected Utility over Savage Acts with a Set of Priors
Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using
ideas.repec.org.cob-web.org:8888 /p/nwu/cmsems/1218.html   (311 words)

  
 Economy-wide bond default rates: A maximum expected utility approach (via CobWeb/3.1 planetlab2.ece.ucdavis.edu)   (Site not responding. Last check: 2007-10-14)
Economy-wide bond default rates: A maximum expected utility approach (via CobWeb/3.1 planetlab2.ece.ucdavis.edu)
Economy-wide bond default rates: A maximum expected utility approach
If you experience problems downloading a file, check if you have the proper application to view it first.
ideas.repec.org.cob-web.org:8888 /a/eee/jbfina/v30y2006i2p679-693.html   (164 words)

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