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520 0450 01100 40 euh 0620 0250 02100

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

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