Machine-translated by Google. Questions are authored in English.
Top

Discussion

Why might an agent not simply maximise expected utility in practice?

  • A.Expected utility is only defined for episodic environments
  • B.Probabilities cannot be assigned to outcomes in any real problem
  • C.Maximising expectation always leads to excessively risky behaviour
  • D.Computing the expectation over all outcomes may be intractable

Answer: D

The number of outcomes is usually far too large to enumerate, and the probabilities and utilities are themselves estimates, so approximations, sampling and satisficing are used instead. Expected utility applies to sequential problems too, probabilities can often be estimated, and risk attitude is captured within the utility function itself. A normative principle that cannot be computed exactly is still valuable as a target that approximations are measured against.

No comment is present. Be the first to comment.
Loading…

Post your comment

Please log in or register to post a comment.