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The introduction to this article provides insufficient context for those unfamiliar with the subject. Please help improve the article with a good introductory style. (October 2008) |
Not to be confused with Expected utility.
A qualification introduced by Jeremy Bentham, to distinguish between two different types of utilities, or, rather, sources of utility (for utility, being identical to pleasure, remains always qualitatively the same). Expectation utilities are future-regarding, and thus imply desires and beliefs; "natural" utilities are not. Expectation utilities allow for long-term projects, which provide a higher proportion of utility than the natural utilities favored by those agents that can only pursue their immediate interest.
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