Utility theory in Artificial intelligence

There are following points about Utility theory

  • Defines axioms on preferences that involve uncertainty and ways to manipulate them.
  • Uncertainty is modeled through lotteries

-– Lottery:

[ p : A;(1 − p) : C]

  • Outcome A with probability p
  • Outcome C with probability (1-p)
  • The following six constraints are known as the axioms of utility theory. The axioms are the most obvious semantic constraints on preferences with lotteries

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