Decision making under uncertainty where different outcomes are possible with different probabilities form the basis of:
A)consumer behavior
B)risky decision making
C)the get-got gap
D)selective thinking
E)the sunk cost effect

Question

Quizplus · Accepted Answer

Risky decision making involves making choices when the outcome is uncertain and different outcomes have different probabilities. Consumer behavior, the get-got gap, selective thinking, and the sunk cost effect may all involve uncertainty, but they do not necessarily involve choosing among different outcomes with varying probabilities. Therefore, option B is the only correct answer.

Decision Making Under Uncertainty Where Different Outcomes Are Possible with Different