Rational agents are entities that make decisions aimed at maximizing their expected utility, based on the information available and their goals. They are a foundational concept in artificial intelligence and economics, where they are used to model decision-making processes in uncertain environments.

Rational Agents

Rational agents

Expected utility is a foundational concept in decision theory that quantifies the desirability of uncertain outcomes by considering both their probabilities and their respective utilities. It serves as a guide for rational decision-making under uncertainty, helping individuals or entities choose options that maximize their overall satisfaction or benefit.

expected utility

Decision-making processes involve selecting the best course of action from multiple alternatives based on available information, preferences, and values. Effective decision-making requires balancing rational analysis with intuitive judgment to achieve desired outcomes and mitigate potential risks.

decision-making processes

Artificial intelligence refers to the development of computer systems capable of performing tasks that typically require human intelligence, such as visual perception, speech recognition, decision-making, and language translation. It encompasses a range of technologies and methodologies, including machine learning, neural networks, and natural language processing, to create systems that can learn, adapt, and improve over time.

artificial intelligence

Economics is the study of how individuals, businesses, and governments make choices on allocating resources to satisfy their wants and needs, and how these choices interact to shape markets and economies. It encompasses both microeconomic and macroeconomic perspectives, analyzing everything from individual consumer behavior to global economic trends.

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