In the real world, when there is no decision rule that can be applied using only information that is freely available, which of the following is most needed?

Question

Quizplus · Accepted Answer

When there is no decision rule that can be applied using only freely available information, the most valuable asset is entrepreneurial judgment. This is because it requires creativity and foresight to generate a unique solution to the problem. Government direction may not always be effective or appropriate, protection from competition may not solve the problem at hand, and team production may not necessarily produce a successful outcome without strong leadership and decision-making abilities.

In the Real World, When There Is No Decision Rule