Question

Discuss decision making under certainty, risk and uncertainty with suitable examples.

Answer 1

their organizational role than when acting separately from the organization. Organizational behavior researchers study the behavior of individuals primarily in their organizational roles. One of the main goals of organizational behavior is to revitalize organizational theory and develop a better conceptualization of organizational life.

Answer 2

A decision problem, where a decision-maker is aware of various possible states of nature but has insufficient information to assign any probabilities of occurrence to them, is termed as decision-making under uncertainty. A decision under uncertainty is when there are many unknowns and no possibility of knowing what could occur in the future to alter the outcome of a decision.

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