Under the condition of ______, the decision maker lacks enough information to estimate the probability of outcomes.
A)certainty
B)estimation
C)risk
D)uncertainty
E)rationalization

Question

Quizplus · Accepted Answer

Uncertainty is the condition where decision-makers don't have enough information to assign probabilities to different outcomes. In contrast, under risk, decision-makers have incomplete knowledge about the outcomes but can still estimate the probabilities for them.

Under the Condition of ______, the Decision Maker Lacks Enough