SUBJECTIVE-EXPECTED VALUE

while making a decision, the expected value of an outcome that is guessed by the decision maker is subjective expected value. It is just like a guess that is evolved in a mind while making decision.

SUBJECTIVE-EXPECTED VALUE: "while taking a decision of not to talk to each other; husband may guess that after doing this there will be a change in his wife's behaviour is subjective expected value."
Cite this page: N., Pam M.S., "SUBJECTIVE-EXPECTED VALUE," in PsychologyDictionary.org, April 13, 2013, https://psychologydictionary.org/subjective-expected-value/ (accessed November 14, 2019).
SHARE