Making Decisions under Uncertainty
Combine what you believe with what you want: expected utility as the criterion, the curve that explains why sensible people refuse favourable bets, and a price for information that is zero unless it changes your mind.
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Expected Utility and the MEU Principle
25 min · 100 XPA utility function turns preferences into a number, expected utility averages it over what might happen, and maximising it is the whole criterion - which is not the same as solving the problem.
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The Utility of Money and Risk
25 min · 100 XPWhy the utility curve for money bends, what its curvature means, and how to put a number on a preference - including the uncomfortable ones.
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Decision Networks and the Value of Information
30 min · 120 XPAdd action and utility nodes to a Bayesian network, then ask what an observation is worth before paying for it.
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