Encyclopedia > Expectation utilities

  Article Content

Expectation utilities

A qualification introduced by Bentham, to distinguish between two different types of utilities, or, rather, sources of utiliy (for utility, being identical to pleasure, remains always qualitatively the same). Expectation utilities are future-regarding, and thus imply desires and beliefs; "natural" utilities are not. Expectation utilities allow for long-term projects, which provide a higher proportion of utility than the natural utilities favored by those agents that can only pursue their immediate interest.

The notion of 'expectation utility' must not be mistaken by that of 'expected utility'[?].

All Wikipedia text is available under the terms of the GNU Free Documentation License

  Search Encyclopedia

Search over one million articles, find something about almost anything!
  Featured Article
Canadian Charter of Rights and Freedoms

... to the European Convention on Human Rights (ECHR), specifically in relation to the limitations clauses contained the European Convention. The underlying reason for ...

This page was created in 34.8 ms