The lowest one of these quantities in a set is multiplied by the “coefficient of pessimism” alpha, and the highest by one minus alpha, when applying the Hurwicz criterion. Defining this quantity using the Choquet integral can explain violations of Savage’s “sure-thing” principle, like the Allais paradox. A function representing this quantity that is unique up to an affine transformation must exist for any von Neumann–Morgenstern ranking. Daniel Bernoulli used a logarithmic function to model this quantity in his resolution of the St. Petersburg paradox. Bundles that provide the same value of this quantity are plotted on an indifference curve. (10[1])In orthodox decision theory, the optimal choice has the greatest expected value of this quantity. For 10 points, identify this economic quantity that represents the value of a good or service. ■END■ (0[4])