Author Question: In subjective utility theory, subjective utilities are based on____. a. the individual's ... (Read 153 times)

TVarnum · **on:** Jun 20, 2018

In subjective utility theory, subjective utilities are based on____.

a. the individual's judgments of value
b. average perceived usefulness
c. financial calculations of cost
d. a weighting of all aspects of cost

Question 2

According to subjective expected utility theory, what is the ultimate goal of decision making?

a. simply to maximize pleasure and gain
b. to maximize pleasure and minimize pain
c. simply to minimize pain and loss
d. to eliminate any risk of pain or loss