"Decision making under risk" means _________.
A)the decision has no data on which to base his or her decision
B)the decision maker knows all of the risks involved in the situation
C)the decision maker is used to dealing with high- risk situations
D)the decision maker can estimate the risk involved in making a decision

Question

Quizplus · Accepted Answer

"Decision making under risk" implies that the decision maker has some knowledge of the possible outcomes and can estimate the probabilities of different risks occurring, allowing for informed decision-making. This contrasts with decision-making under uncertainty, where the probabilities of outcomes are not known.

"Decision Making Under Risk" Means _________