Conclusion

• Take Home Points
  1. Probability and conditional probability are important.
  2. Utility is the measure of the desirability of a state.
  3. Utility theory goes a long way to describing people's economic behaviour.
  4. It can usefully be used in agents (particularly market predicting agents).
• Reading: Read Russell and Norvig's Making Simple Decisions Chapter (pp. 621-647) (particularly section 3) for this week.
• Reading: for next week is Russell and Norvig's Robotics Chapter (pp. 988-1036).