decision making

decision making

1. under uncertainty

   • criterion of realism
     • how much % it is favorable
     • highest value
   • equally likely
     • 50% f 50%uf
     • highest profit
   • maximin
     • max of min loss
     • pessimistic
   • minimax regret
     • opportunity loss
     • min of max loss
   • maximax
     • max of max profit
     • optimistic

2. under risk

   • probability theory

3. under certainty

   • 100% sure