expectation theory

Expectation Theory, in general knowledge, refers to the idea that individuals form expectations about future events based on past experiences and available information. It's often used to explain how people make decisions or assess risks. For instance, if someone has positively experienced a product before, they expect a similar outcome in the future. This theory highlights the importance of prior knowledge and beliefs in shaping our understanding and predictions about the world, influencing choices in everyday life, finance, economics, and other fields.