Question

what is theory of decision making



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Answer 1

Answer:

Key Takeaways. Decision theory is an interdisciplinary approach to arrive at the decisions that are the most advantageous given an uncertain environment. Decision theory brings together psychology, statistics, philosophy, and mathematics to analyze the decision-making process.

Explanation:

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Answer 2

Answer:

Decision making theory is a theory of how rational individuals should behave under risk and uncertainty. ... The author emphasises on the rationality of individuals and at the same time how they should behave

Explanation:

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