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Expectancy Theory
According to the expectancy theory or instrumentality model of motivation, behavior is a function of the expectancies one has and the value of the goal one is working toward expressed as

B = f (E V).
Such an approach predicts that when more than one mode of behavior is possible, the mode chosen will be the one with the largest combination of expected success and value. Expectancy theory is associated with the work of Vroom, who applied concepts of Expectancy if I tried could I do it? Instrumentality if I did it would I attain the required outcome? Valence (a subjective value) do I really value the available outcomes? Motivation is thus a combination of the value of the perceived outcome (whats in it for me?), the belief that if I complete certain actions I will achieve the outcome (clear path?), and the belief that I am able to complete the actions (my capability?) The expectancy theory seeks to elicit (1) factors that shape the effort that someone puts into learning (or working), and (2) factors that affect the effort-performance relationship. On the one hand, the focus is on the value of rewards or outcomes (i.e. their attractiveness to the individual). Clearly, any person will desire a range of outcomes. Rewards reflect the needs suggested by Maslow, assuming that each person typically has a stable profile of preferences over time. This notion is akin to subjective utility. On the other hand, the focus of the theory is on the subjective probability that rewards will result from efforts i.e. the persons perception of the likelihood of success as a result of effort. Scholl (2002) has illustrated the central assumptions of the expectancy theory as follows:

This model suggests that people are motivated to learn because of expectations as to perceived payoffs or rewards resulting from their effort. The desirability of these rewards (valence), the perception of expectancy, and the force of expression are intrinsic to the person. Each person has his or her own view of what is challenging or interesting, important to self-esteem, and desirable as extrinsic payoffs and rewards. Thus, achievement is an important payoff for you. However, you may be anxious as to how much effort you need to put in to do the work. You feel that you lack confidence or skills. You may feel that the task was not really feasible in terms of its scope and the available time and resources. You may decide that it is unlikely that it can be accomplished so you approach it half heartedly, not anticipating any worthwhile achievement from the effort. The expectancy theory has proved useful for explaining social behavior, achievement motivation, and work motivation. Well-known examples of its application are: (1) The expectancy-value model of achievement motivation; (2) the behavioral decision theory or subjective expected utility theory, which is one of the most fully developed of the expectancy-value theories; (3) Fishbeins theory of reasoned action or behavioral intentions, which is another widely accepted and well-developed expectancy-value theory; and (4) Rotters social learning theory.