 Gibbard and Harper distinguished two types of expected utility. One type they called value and represented with \(V\). It indicates news-value or auspiciousness. The other type they called utility and represented with \(U\). It indicates efficacy in attainment of goals. A calculation of an act’s expected value uses conditional probabilities, and a calculation of its expected utility uses probabilities of conditionals. They argued that expected utility, calculated with probabilities of conditionals, yields genuine expected utility.