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Howard Raiffa Quotes: The best practical advice then is: try to maximize your expected payoff, which is the sum of all payoffs multiplied by probabilities.
         

The best practical advice then is: try to maximize your expected payoff, which is the sum of all payoffs multiplied by probabilities.


Howard Raiffa
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"Howard Raiffa Quotes." Quoteslyfe.com, 2025. Sun. 16 Feb. 2025. <https://www.quoteslyfe.com/quote/The-best-practical-advice-then-is-try-659512>.





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Other quotes of Howard Raiffa


the mediation of internal conflicts can be resolved by linkages with other problems.

the mediation of internal conflicts can be resolved by linkages with other problems.



A final word of advice: don't gloat about how well you have done.

A final word of advice: don't gloat about how well you have done.



Disputants often fare poorly when they each act greedily and deceptively.

Disputants often fare poorly when they each act greedily and deceptively.



The art of compromise centers on the willingness to give up something in order to get something else in return. Successful artists get more than they give up.

The art of compromise centers on the willingness to give up something in order to get something else in return. Successful artists get more than they give up.



A mediator is an impartial outsider who tries to aid the negotiators in their quest to find a compromise agreement.

A mediator is an impartial outsider who tries to aid the negotiators in their quest to find a compromise agreement.



Ideas are incestuous.

Ideas are incestuous.



We act like a zero-sum society, when in reality there is a lot of non zero-sum fat to be skimmed off to everyone's mutual advantage.

We act like a zero-sum society, when in reality there is a lot of non zero-sum fat to be skimmed off to everyone's mutual advantage.



A lot depends on the starting point.

A lot depends on the starting point.



The party that negotiates in haste is often at a disadvantage.

The party that negotiates in haste is often at a disadvantage.



Advice: don't embarrass your bargaining partner by forcing him or her to make all the concessions.

Advice: don't embarrass your bargaining partner by forcing him or her to make all the concessions.





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An awful realization that I have been fooling myself all my life thinking there was a next thing to do to keep the show going and actually I'm just a sick clown and so is everybody else...

An awful realization that I have been fooling myself all my life thinking there was a next thing to do to keep the show going and actually I'm just a sick clown and so is everybody else...



Train your emotions to listen to your fundamental empowering beliefs. Be principle-centred and values-driven.

Train your emotions to listen to your fundamental empowering beliefs. Be principle-centred and values-driven.



Being generous or doing things for others actually makes me feel good so I don't do it because I hope karma will come round and get me and I'll benefit from it.

Being generous or doing things for others actually makes me feel good so I don't do it because I hope karma will come round and get me and I'll benefit from it.



The Endangered Species Act is the strongest and most effective tool we have to repair the environmental harm that is causing a species to decline.

The Endangered Species Act is the strongest and most effective tool we have to repair the environmental harm that is causing a species to decline.



My goal is to win the next game one possession at a time. That's it. I don't have any other goals

My goal is to win the next game one possession at a time. That's it. I don't have any other goals



There's a very fine line between giving someone the Heimlich maneuver and dry-humping a stranger.

There's a very fine line between giving someone the Heimlich maneuver and dry-humping a stranger.



I would not be happy to do what I do unless I felt that the large audience wanted it.

I would not be happy to do what I do unless I felt that the large audience wanted it.



You can read a dozen different textbooks or how-to manuals that will tell you the basic rules of what makes a story - a beginning, a middle, and an end.

You can read a dozen different textbooks or how-to manuals that will tell you the basic rules of what makes a story - a beginning, a middle, and an end.



Find joy and peace in this very moment.

Find joy and peace in this very moment.



My single pair of eyes Contain the universe they see; Their mirrored multiplicity Is packed into a hollow body Where I reflect the many, in my one.

My single pair of eyes Contain the universe they see; Their mirrored multiplicity Is packed into a hollow body Where I reflect the many, in my one.




Quote Description


This page presents the quote "The best practical advice then is: try to maximize your expected payoff, which is the sum of all payoffs multiplied by probabilities.". Author of this quote is Howard Raiffa. This quote is about payoff, trying, expected, advice,.