Which of the Methods for Decision Making Without Probabilities Best

question 21

Multiple Choice

Which of the methods for decision making without probabilities best protects the decision maker from undesirable results?

• A)the optimistic approach
• B)the conservative approach
• C)minimum regret
• D)minimax regret

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Definitions:

Self-Serving Bias

The common human tendency to attribute positive events to one's own character but attribute negative events to external factors.

Ethnic Group

A community or population made up of people who share a common cultural background, ancestry, or social experience.

Superior

Often used to describe something that is above average in quality or performance, or higher in position or rank.

Deindividuation

A psychological state characterized by reduced self-awareness and decreased personal responsibility in group settings.