Expected Value

Full Title or Meme

The value of an expected outcome given the probabilities.

Context

Compare this with the Utility Function as both focus on the greatest value for the greatest number, and so do not guarantee a minimum expectation for every individual.

Quantum Physics

The only result from the SE is the probability amplitude.

Gambling

Gamblers are Expected Value maximizers, that is they will take the bet when the Expected Value is greater than than the cost. These people are said to live “on the river”. Riverians worry that Villagers are stifling competition by increasingly focusing on equity of outcomes rather than equality of opportunity.