Bounded rationality and sub-optimization

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Reference no: EM131140153

For this assignment you will be using the discussion board/ forum. Explain the following decision making terms in your own words. Use examples, if necessary and make sure you read and respond to the postings of others.

1)    Bounded rationality

2)    Sub-optimization

3)    Expected value of perfect information

4)    Minimax regret approach to decision making

Reference no: EM131140153

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