Description
Calculate one supplied lottery branch's expected-utility term.
Behavioral economic tasks use explicit payoff units, reference values, time periods and supplied utility or discount conventions. A decision weight need not be a probability, one branch term is not a full expectation, and a nominal cost difference does not establish perceived switching difficulty or an actual preference.
Calculate one supplied lottery branch's expected-utility term.
When to use this tool
Use Lottery Branch Weighted Utility Term when you already have branchProbability, suppliedUtility and need to calculate one supplied lottery branch's expected-utility term.
How to use the tool and how it works
- Enter branchProbability, suppliedUtility. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read expectedUtilityContribution. Use the output convention below.
Require branchProbability in [0,1]; multiply by signed suppliedUtility.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| branchProbability | Branch Probability | Required. Finite number; minimum 0; maximum 1. |
| suppliedUtility | Supplied Utility | Required. Finite number. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| expectedUtilityContribution | Expected Utility Contribution | Required. Finite number. |
{
"input": {
"branchProbability": 0.25,
"suppliedUtility": 20
},
"output": {
"expectedUtilityContribution": 5
}
}Limitations and assumptions
- Utility is already supplied on a common scale. This is one contribution, not the full expectation, a utility estimate or an actual choice prediction.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Review the full task design, incentive and payoff definitions, participant records and statistical analysis. Estimate behavioral models from appropriate data when local supplied-value arithmetic cannot establish preferences or causal effects.
References
Similar or alternative tools
- Lottery Expected Payoff
Calculate a supplied finite lottery expected payoff.
- Probability Weight Supplied Model Point
Compare a supplied decision weight with objective probability.