Expected Utility Theory

Famous quotes containing the words expected, utility and/or theory:

“Between us two it’s not a star at all.
It’s a new patented electric light,
Put up on trial by that Jerseyite
So much is being now expected of....”
—Robert Frost (1874–1963)

“Moral sensibilities are nowadays at such cross-purposes that to one man a morality is proved by its utility, while to another its utility refutes it.”
—Friedrich Nietzsche (1844–1900)

“Don’t confuse hypothesis and theory. The former is a possible explanation; the latter, the correct one. The establishment of theory is the very purpose of science.”
—Martin H. Fischer (1879–1962)