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Decision Rules in a Simulation Are a Set of Conditions

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Decision rules in a simulation are a set of conditions under which the behavior of the simulation model is observed.These rules are either directly or indirectly the focus of most simulation studies.


Definitions:

Bankruptcy

A legal proceeding involving a person or business that is unable to repay their outstanding debts, allowing for the liquidation or reorganization of assets to pay off creditors.

Voidable Preference

A legal term referring to a payment or asset transfer made by a debtor that can be invalidated by a bankruptcy trustee under certain conditions.

Insider

An individual with access to confidential information about a company, often an employee or executive, which can affect financial decisions or market performance.

Liquidation

The process of converting a company's assets into cash to pay off creditors before ceasing operations or redistributing assets to shareholders.

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