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Generalized expected utility

 Home Mathematics Fields of mathematics Applied mathematics Applied probability Expected utility
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Generalized Expected Utility (GEU) is an extension of the traditional expected utility theory, which is a cornerstone of decision-making under risk in economics and decision theory. While standard expected utility theory assumes that individuals will make choices to maximize the expected utility based on a given probability distribution of outcomes, GEU accommodates a broader range of preferences and behaviors.

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