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Behavioural Decision Model
suggests that decision-making processes are influenced by cognitive biases, emotions, and social influences rather than being purely rational or logical.
Risk And Uncertainty
The exposure to the possibility of loss or damage and the lack of predictability in events or outcomes, respectively.
Optimizing Decision
The process of finding the most efficient, effective, or achievable decision under the given constraints, often using rigorous methods of analysis.
Absolute Best
The highest possible standard or quality that can be achieved in a specific context.
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