Examlex
_____ refers to uncontrollable sleeping that occurs for short periods while a person is awake.
Expected Utility Function
A mathematical expression that represents a consumer's preference for uncertain outcomes, weighting each outcome by its probability of occurrence.
Von Neuman-Morgenstern Utility Function
A utility function that accounts for the existence of risk and uncertainty, allowing for the calculation of expected utility.
Wealth
The total value of all assets owned by an individual, community, company, or country, minus any liabilities.
Probability
A measure of the likelihood that a specified event will occur, expressed as a number between 0 and 1.
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