The payoff table always has more states of nature than decision alternatives.
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Q9: The expected regret criterion will always yield
Q10: The "principle of insufficient reason" indicates the
Q11: "Uncertainty" implies probabilities; "risk" implies ignorance.
Q12: The difference between "risk" and "uncertainty" in
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Q15: The optimal decision can change merely by
Q16: The objective function in game theory is
Q17: When using the maximax criterion, the optimal
Q18: The states of nature in a payoff
Q19: The expected value criterion ignores the decision
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