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Behavioral Mathematics for Game AI by Dave Mark

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Utility of Time

Money certainly is an obvious and reasonably measurable commodity to which we can ascribe value and utility. Even items on which we can hang a price tag, such as a computer of questionable quality, can be converted to be expressed in terms of the value of money.

Another commodity, however, is important to consider when discussing the concept of utility—especially as it corresponds to decision theory. The idea of time as having measurable utility is not a foreign concept. After all, we often utter musings to ourselves or to others along the lines of “if I only had the time to spend,” “but I don’t want to waste the time,” “it’s not worth my time,” and “could you buy me some time?” Notice that the emphasized words are all ones that ...

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