Risk aversionIn economics and finance, risk aversion is the tendency of people to prefer outcomes with low uncertainty to those outcomes with high uncertainty, even if the average outcome of the latter is equal to or higher in monetary value than the more certain outcome. Risk aversion explains the inclination to agree to a situation with a more predictable, but possibly lower payoff, rather than another situation with a highly unpredictable, but possibly higher payoff.
Exponential utilityIn economics and finance, exponential utility is a specific form of the utility function, used in some contexts because of its convenience when risk (sometimes referred to as uncertainty) is present, in which case expected utility is maximized. Formally, exponential utility is given by: is a variable that the economic decision-maker prefers more of, such as consumption, and is a constant that represents the degree of risk preference ( for risk aversion, for risk-neutrality, or for risk-seeking).
Electric utilityAn electric utility is a company in the electric power industry (often a public utility) that engages in electricity generation and distribution of electricity for sale generally in a regulated market. The electrical utility industry is a major provider of energy in most countries. Electric utilities include investor owned, publicly owned, cooperatives, and nationalized entities. They may be engaged in all or only some aspects of the industry.
Regret (decision theory)In decision theory, on making decisions under uncertainty—should information about the best course of action arrive after taking a fixed decision—the human emotional response of regret is often experienced, and can be measured as the value of difference between a made decision and the optimal decision. The theory of regret aversion or anticipated regret proposes that when facing a decision, individuals might anticipate regret and thus incorporate in their choice their desire to eliminate or reduce this possibility.
RunningRunning is a method of terrestrial locomotion allowing humans and other animals to move rapidly on foot. Running is a type of gait characterized by an aerial phase in which all feet are above the ground (though there are exceptions). This is in contrast to walking, where one foot is always in contact with the ground, the legs are kept mostly straight and the center of gravity vaults over the stance leg or legs in an inverted pendulum fashion.
Long-distance runningLong-distance running, or endurance running, is a form of continuous running over distances of at least . Physiologically, it is largely aerobic in nature and requires stamina as well as mental strength. Within endurance running comes two different types of respiration. The more prominent side that runners experience more frequently is aerobic respiration. This occurs when oxygen is present, and the body can utilize oxygen to help generate energy and muscle activity.
