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Questions and Answers
What is the branch of decision theory concerned with identifying optimal decisions?
What is the branch of decision theory concerned with identifying optimal decisions?
- Descriptive decision theory
- Normative decision theory (correct)
- Prescriptive decision theory
- Applied decision theory
Which branch of decision theory is concerned with describing observed behaviors through conceptual models?
Which branch of decision theory is concerned with describing observed behaviors through conceptual models?
- Prescriptive decision theory (correct)
- Normative decision theory
- Behavioral decision theory
- Descriptive decision theory
What does descriptive decision theory analyze?
What does descriptive decision theory analyze?
- How individuals actually make decisions (correct)
- How to assign probabilities to factors
- How to optimize decisions
- How organizations make decisions
Which field is decision theory a broad topic studied by?
Which field is decision theory a broad topic studied by?
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What does decision theory involve assigning to various factors and outcomes?
What does decision theory involve assigning to various factors and outcomes?
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