utility function

/Y UW0 T IH1 L AH0 T IY0 F AH0 NG K SH AH0 N/
noun
  1. 1

    A mathematical function that assigns a real number to every element of the outcome space in a way that captures the agent's preferences over both simple and compound lotteries.

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Source: https://en.wiktionary.org/wiki/utility%20function

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