Determine Decision Strategies Based on Expected Value and on Expected

question 6

Essay

Determine decision strategies based on expected value and on expected utility for this decision tree.Use the utility function
$$\begin{array} { c c } \text { Payoff } & \text { Indifference Probability } \\500 & 1.00 \\350 & .89 \\300 & .84 \\180 & .60 \\100 & .43 \\40 & .20 \\20 & .13 \\0 & 0\end{array}$$

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Definitions:

Hydraulic Model

A theory suggesting that emotional pressure builds up within individuals and must be released to avoid psychological issues, akin to the way hydraulic pressure builds and must be released.

Cathartic Therapies

Psychological treatments that encourage patients to express their feelings and emotions as a way of reducing stress and improving mental health.

Descriptive Norm

The perception of what is commonly done or typical behavior within a specific context or group of people.

Relational Aggression

A form of aggression in which harm is caused through manipulation or damage to someone's relationships or social status.