Examlex
The fairness approach to ethical decision making states that one should choose the action or policy that has the best overall consequences for all people who are directly or indirectly affected.
Decision Table
A tabular method for representing and analyzing rules and decision-making scenarios, showing inputs and their associated outcomes.
State of Nature
A future condition or occurrence in decision theory that is beyond the control of decision makers and can affect the outcomes of decisions.
Expected Value
A statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.
Perfect Information
A condition in decision-making scenarios where all actors have access to all relevant information to make a decision.
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