 | Study Outlines
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 study_outline_ch05s.doc
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- Briefly define or explain these causes of poor decisions:
bounded rationality suboptimization - List the six steps in the decision making process:
1) 2) 3) 4) 5) 6) - List and briefly explain the three decision environments:
1) 2) 3) - Explain each of these decision making approaches:
maximin maximax Laplace minimax regret - What is the EMV criterion, and what additional information is needed to use it?
- What is a decision tree, and how is it useful?
- What is the expected value of perfect information?
- What information does sensitivity analysis provide for a decision maker?
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