Assigning probabilities less than $1($i$.$e$.,$ P $<1)$ to potential alternatives and outcomes means that the decision maker is operating in a$($n$)$ environment. Assigning probabilities equal to $1($i$.$e$.,$ P $=1)$ to potential alternatives and outcomes means that the decision maker is operating in a$($n$)$ environment. Unable to assign probabilities to alternatives and potential outcomes $($i$.$e$.,$ P $=$ unknown$)$ means that the decision maker is operating in a$($n$)$ environment.

Question $10$Answer

a$.$

risk; uncertain; certain

b$.$

uncertain; certain; risk

c$.$

bounded rationality; certain; uncertain

d$.$

risk; certain; bounded risk

e$.$

none of the aboveAssigning probabilities less than $1($i$.$e$.,$ P $<1)$ to potential alternatives and outcomes means that the decision maker is operating in a$($n$)$ environment. Assigning probabilities equal to $1($i$.$e$.,$ P $=1)$ to potential alternatives and outcomes means that the decision maker is operating in a$($n$)$ environment. Unable to assign probabilities to alternatives and potential outcomes $($i$.$e$.,$ P $=$ unknown$)$ means that the decision maker is operating in a$($n$)$ environment.

Question $10$Answer

a$.$

risk; uncertain; certain

b$.$

uncertain; certain; risk

c$.$

bounded rationality; certain; uncertain

d$.$

risk; certain; bounded risk

e$.$

none of the above