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Note--A Note on Decision Making and Replacing Sure Prospects with Uncertain Prospects

Martin Shubik

Management Science, 1973, vol. 19, issue 6, 711-712

Abstract: In the making of decisions where the valuation problem poses the major difficulty an individual may choose to replace a hard-to-evaluate certain prospect with a much easier to evaluate set of uncertain prospects.

Date: 1973
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Handle: RePEc:inm:ormnsc:v:19:y:1973:i:6:p:711-712