subjective expected value

in analyses of decision making, the extent to which an outcome is (a) desired or valued and (b) thought to be probable by the decision maker. The choice of one alternative over others is to a considerable extent a function of the personal (or subjective) value placed by an individual on a specific act or outcome as well as the perceived probability (expectation) that the given alternative will lead to that outcome. Many analyses assume that the alternative selected is the one for which the product of the expectation and the subjective value is the highest.

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Psychology term of the day

November 27th 2024

weight regulation

a process, governed by a complex array of neural mechanisms and structures (including the hypothalamus), in which the brain seeks an optimum balance between an organism’s food intake and energy expenditure after a certain body weight is achieved. A number of other factors, such as environmental stimuli, may influence the process as well.