ABSTRACT
This chapter covers the concept of determining future outcomes under Rational Choice Theory (RCT). One method – under rational choice theory – to determine future outcomes is through determining Expected Value (EV). Expected Value provides an estimated expected future outcome using probability forecasts within a framework based on infinite cases (iterations). The use of the Expected Value calculus can help determine decision-making processes and outcomes – for rational individuals. This chapter provides examples, data, and evidence related to Expected Value adhering to rational choice. Such invisible measuring tools provide simple yet calibrated calculations on how to value great expectations.
