As long as the monetary value of payoffs stays within a range that the decision maker considers reasonable,selecting the decision alternative with the best expected value usually leads to selection of the most preferred decision.

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As long as the payoffs are within a reasonable range, selecting the decision alternative with the best expected value tends to lead to the selection of the most preferred decision. This is because expected value takes into account both the likelihood and magnitude of each outcome, providing a rational way to compare alternatives. However, if the payoffs go beyond the decision maker's acceptable range (e.g. if the potential losses are too large), they may not choose the option with the highest expected value even if it is technically the best choice.

As Long as the Monetary Value of Payoffs Stays Within