The weighted expected utility is another alternate formulation of utility Let X={x1,p1;,..,;xn,pn} v(x)=Sum(i=1,n,piw(xi)u(xi))/Sum(i=1,n,piw(xi))) where w(xi)=concievability of xi. inconcievable xi => w(xi)=0 The axioms required to formulate this are: * weak order * continuity * FSD * independence: x~y=> forall a in (0,1] s.t. ax+(1-a)z~by+(1-b)z forall z * betweenness