An event is any outcome from which an individual can derive utility. The negation of an event is the event not happening.
Given an outcome X, there are many outcomes other than X, which generally have different utilities. Thus there isn’t one utility value for X not happening.
An event is any outcome from which an individual can derive utility.
The negation of an event is the event not happening.
Given an outcome X, there are many outcomes other than X, which generally have different utilities. Thus there isn’t one utility value for X not happening.