Description
Return probability mass of supplied null and nonnull branches.
Decision models distinguish monetary payoffs, probabilities, model values and subjective equivalents. Discounting, probability weighting and reference-dependent utility terms depend on supplied parameters and cannot by themselves establish actual preferences or an appropriate allocation.
Return probability mass of supplied null and nonnull branches.
When to use this tool
Use Lottery Null Branch Mass when evaluating the stated decision-model, lottery or discount contribution.
How to use the tool and how it works
- Enter probabilities, nullBranches. Follow any array-alignment requirements below. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read nullMass, nonnullMass. Use the output convention below.
Return probability mass of supplied null and nonnull branches. Require aligned arrays, probabilities in [0,1] and sum within 1e-12 of one; sum each group by its flag.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| probabilities | Probabilities | Required. Array of finite number; maximum items 256. |
| nullBranches | Null Branches | Required. Array of boolean; maximum items 256. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| nullMass | Null Mass | Required. Finite number. |
| nonnullMass | Nonnull Mass | Required. Finite number. |
{
"input": {
"probabilities": [
0.2,
0.3,
0.5
],
"nullBranches": [
true,
false,
true
]
},
"output": {
"nullMass": 0.7,
"nonnullMass": 0.3
}
}Limitations and assumptions
- Null labels are assertions, not checked against payoffs; no sampling, preference model or certainty equivalent is computed.
- 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
Fit and validate an appropriate complete decision model against relevant observations; distinguish model scores from money and assess actual financial choices separately.
References
Similar or alternative tools
- Lottery Sure Equivalent Gap
Return expected lottery payoff and sure-equivalent gap.
- Certainty Equivalent Risk Premium Gap
Return a supplied certainty equivalent's risk premium.