Reference no: EM131754797

Question: You graduate and get hired at a management-consulting firm. On your first project, the decision maker says "I cannot assign a probability to the outcomes of this uncertainty, but my trusted friend can. Also, I can arrange the prospects in order of preference, but I cannot state a preference probability on either of them." You think of the following possible solutions:

a. Explain the five rules to him and try to get him to state these probabilities.

b. Tell him it is ok to use his friend's probability assessment for outcomes of the uncertainty and the preference probability of the prospects if he shares his friend's belief.

c. Tell him it is ok to use his friend's probability assessment for outcomes of the uncertainty if he shares his friend's belief, but he must also share his friend's preferences if he wishes to use the preference probabilities as well.
Which would you chose to do?

i. (a) and (b)

ii. (a) and (c)

iii. (b) and (c)

iv. None of the above.