Decision Theory: Utility Functions - Stanford University

When we talked about influence diagram we included in the influence diagram nodes  that represent the agent's utility function and those utility functions, we  said, indicate an agent's preferences regarding the state of the world or  different aspects of the state of the world.  What are these utility functions and where do they come from?  utility functions are necessary for our ability to compare complex scenarios  that involve uncertainty or risk. It's not difficult for a person to say  that they prefer an outcome where they get four million to one where they prefer  three million........

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