Examlex
The encoding of information to be stored involves two stages: ________, in which inputs in sensory buffers and sensory analysis stages are registered, and then ________, in which a stronger representation for storage is created.
Uncertainty
Uncertainty refers to the lack of certainty, predictability, or definiteness about an outcome or condition, often requiring risk assessment and management strategies.
Risk
The potential for loss or the negative consequences that may arise from a given action, decision, or event.
EMV
Expected Monetary Value; a quantitative risk analysis tool used to help in decision-making by calculating the anticipated monetary outcome of different scenarios.
Payoff
The return or benefit received from an investment or action, often used in the context of games, negotiations, and financial investments.
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