Decision-making under ambiguity uncertainty includes the equally likely strategy.
These are the techniques used when making decisions when there is uncertainty, which means that the individual making the decision won't be aware of all the potential outcomes or the likelihood that each one will uncertainty occur.
Making decisions when future consequences are certain requires strategy complete understanding of those events.
Knowing the likelihood of potential outcomes is important when making decisions under risk.
The term "uncertainty" relates to epistemic circumstances containing strategy incomplete or ambiguous information. It is applicable to the unknown, physical measurements that have already been performed, and forecasts of future events. As well as from ignorance, complacency, or both, uncertainty can also result from partially observable or stochastic settings.
Insurance, philosophy, physics, statistics, economics, finance, medicine, uncertainty psychology, sociology, engineering, metrology, meteorology, ecology, and information science are just a few of the domains where it can be found.
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