  The recently proposed "reheating-volume" (RV) measure promises to solve the
long-standing problem of extracting probabilistic predictions from cosmological
"multiverse" scenarios involving eternal inflation. I give a detailed
description of the new measure and its applications to generic models of
eternal inflation of random-walk type. For those models I derive a general
formula for RV-regulated probability distributions that is suitable for
numerical computations. I show that the results of the RV cutoff in random-walk
type models are always gauge-invariant and independent of the initial
conditions at the beginning of inflation. In a toy model where equal-time
cutoffs lead to the "youngness paradox," the RV cutoff yields unbiased results
that are distinct from previously proposed measures.
