Choosing Between Alternative Courses of Action

The best way to choose between alternative courses of action is by figuring out which has the highest expected value. As i learned from my first text book at wharton 50 years ago, decisions under uncertainty, by c. Jackson grayson junior. If one act has a higher expected value than another, and if the decision maker is willing to regard the consequences of each act event in purely monetary terms then this would be the logical act to choose. Keeping in mind that only one event and its consequences will occur, not the weighted average consequence.