Topic 3: Decision Making
3 enviroments
------------------
--> under certainty
--> under uncertainty
--> under risk
RISK ADVERSE --> RISK NEUTRAL --> RISK TAKEN
1. Under Certainty
--------------------
- have complete information
- use: rasional comparison
2. Decision Under uncertainty
-------------------------------
- no helpful/useless information, unpredictable
- use : experience, discretion, gut feel (emotion)
3. Decision Under Risk
--------------------------
- given estimate of probability (p) of 'Success...