520 0450 01100 40 euh 0620 0250 02100

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: amous •  You can be either (N,M,C) •  Nobody •  Modestly Famous •  Celebrity •  Your uHlity funcHon: •  U(N) = 20 •  U(M) = 50 •  U(C) = 100 •  You have to decide between going to grad school and becoming a professor (G) or going to Hollywood and becoming an actor (A) 4 Outcome ProbabiliHes •  P(N|G)=0.5, P(M|G)=0.4, P(C|G)=0.1 •  P(N|H)=0.6, P(M|H)=0.2, P(C|H)=0.2 •  Maximize expected uHlity: •  U(N) = 20, U(M) = 50, U(C) = 100 EUG = 0.5(20) + 0.4(50) + 0.1(100) = 40 EUH = 0.6(20) + 0.2(50) + 0.2(100) = 42 Hollywood wins! € UHlity of Money •  How much happier are you with an extra $1M? •  How much happier is Bill Gates with an extra $1M? •  Some have proposed: 14 13.5 log(x) 13 12....
View Full Document

This note was uploaded on 02/17/2012 for the course COMPSCI 170 taught by Professor Parr during the Spring '11 term at Duke.

Ask a homework question - tutors are online