What Is the Name of the Motivational Theory That Assumes

question 126

Short Answer

What is the name of the motivational theory that assumes the probability of an individual acting in a particular way depends on the strength of that individual's belief that the act will have a particular outcome and on whether the individual values that outcome?

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Definitions:

Probability

A measure of the likelihood that an event will occur, quantified as a number between 0 and 1.

Utility

A concept in economics that measures the satisfaction, happiness, or benefit that results from the consumption of goods and services.

Expected Utility Function

A mathematical representation in economic theory that models preferences over risky choices or uncertain outcomes.

Utility Function

An economic model that describes how consumers rank different bundles of goods according to the levels of happiness or satisfaction they provide.