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... > social science subjects > health and social care > medical science > medicine > clinical medicine > medical decision making > basis for making the decision > expected utility theory
... > other subjects > natural sciences > life sciences > medical science > medicine > clinical medicine > medical decision making > basis for making the decision > expected utility theory

Preferred term

expected utility theory  

Definition

  • Expected utility theory (EUT) states how an EUT decision maker makes choices among options that have specified characteristics. Each option is in some sense viewed by the EUT decision maker as beneficial to the EUT decision maker, but the option also has risks associated with the benefits and the EUT decision maker must bear the adverse outcomes associated with these risks should they occur. [Source: Encyclopedia of Medical Decision Making; Expected Utility Theory]

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https://concepts.sagepub.com/social-science/concept/expected_utility_theory

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