Examlex
The Baldrige standards measure a firm's quality in several key areas including planning, leadership, and customer and market focus.
Risk Aversion
The tendency to prefer avoiding losses over acquiring equivalent gains; the degree of variability in investment returns that an investor is willing to withstand.
Possible Losses
Potential or anticipated losses, which could be in terms of finances, opportunities, well-being, or other valuable aspects.
Possible Gains
The potential benefits or positive outcomes that might be achieved from a particular action or decision.
Error Management Theory
A theory suggesting that humans are evolved to favor strategies that minimize the more costly type of errors in the dual nature of decision-making errors: false positives and false negatives.
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