Bayesian utility

Bayesian utility combines the idea of updating our beliefs with new evidence (Bayesian reasoning) and evaluating outcomes based on their importance or value (utility). It helps us make decisions by considering how likely different scenarios are and how much we value their results. Essentially, it allows us to weigh options not just by their chance of occurring but also by how beneficial or costly their outcomes are, updating our preferences as we gather more information. This approach supports making smarter, more informed choices in uncertain situations.