The Concept of Utility Can Be Helpful to Apply Decision

question 53

True/False

The concept of utility can be helpful to apply decision analysis techniques to situations which do not lend themselves to expected monetary value analysis.

---

Definitions:

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with the unconditioned stimulus, eventually triggers a conditioned response.

Unconditioned Stimulus

A stimulus that naturally and automatically triggers a response without the need for prior learning.

Variable-interval

In the context of psychology, a schedule of reinforcement where a response is rewarded after an unpredictable amount of time has passed.

Reinforcement Principles

Psychological concepts that involve strengthening a behavior by providing a desirable consequence or removing an undesirable one.