Utility is the probability (expectancy) of satisfaction (utility) for each alternative.
A)Implicit
B)Rational expected
C)Anticipated
D)Evaluative alternative
E)Subjective expected

Question

Quizplus · Accepted Answer

Utility is often conceptualized in terms of subjective expected utility, which refers to the individual's perception of the likelihood of satisfaction or benefit from different choices, emphasizing the subjective nature of the assessment.

Utility Is the Probability (Expectancy) of Satisfaction (Utility) for Each