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Jmini Jmini
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6 years ago
The difference in decision making under risk and decision making under uncertainty is that under risk, we think we know the probabilities of the states of nature, while under uncertainty we do not know the probabilities of the states of nature.
 
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mizunoshiromizunoshiro
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6 years ago
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Jmini Author
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6 years ago
Helped a lot
acaruso
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Yesterday
You make an excellent tutor!
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2 hours ago
Thanks for your help!!
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