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Expected utility networks

  • Abstract: We introduce a new class of graphical representations, expected utility networks (EUNs), and discuss some of its properties and potential applications to artificial intelligence and economic theory. In EUNs not only probabilities, but also utilities enjoy a modular representation. EUNs are undirected graphs with two types of arc, representing probability and utility dependencies respectively. The representation of utilities is based on a novel notion of conditional utility independence, which we introduce and discuss in the context of other existing proposals. Just as probabilistic inference iolves the computation of conditional probabilities, strategic inference iolves the computation of conditional expected utilities for alternative plans of action. We define a new notion of conditional expected utility (EU) independence, and show that in EUNs node separation with respect to the probability and utility subgraphs implies conditional EU independence.

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Document Type:Conference Proceeding
Author:Pierfrancesco La MuraORCiD
Chairs and Professorships:Chair of Economics and Information Systems
Year of Completion:1999
In: Proceedings of the 15th conference on Uncertainty in Artificial Intelligence (UAI '99), Stockholm, Sweden, July 30 - August 1, 1999, ed. by K. Laskey and H. Prade, San Francisco, CA: Morgan Kaufmann, 1999, 366-373