 Instead, we can assume the decision-maker considers two quantities when evaluating an act: the EU of the act, according to her “best estimate” at the probabilities (\(\text{est}_p),\) and the minimum EU of the act as the probability ranges over \(\cQ\); she also assigns a degree of confidence \(\varrho \in[0, 1]\) to her estimated probability distribution. The value of an act will then be a weighted average of her best estimate EU and the minimum EU, with her best estimate weighed by her degree of confidence (Hodges &amp; Lehmann 1952; Ellsberg 1961):