the result of a decision

See pay-off for use of this word within a criminal context.

In game theory, a payoff is a quantitative value associated with an outcome. In certain games, the payoff (p) is the value that results from running an outcome (w) through the von Neuman and Morgenstern utility function (ui):

p = ui(w)

Fun and Games: A Text on Game Theory
Ken Binmore
ISBN: 0-669-24603-4

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