In the design phase of decision making, selecting a principle of choice or criteria means that
A) if an objective model is used with hard data, all decision makers will make the same choice.
B) risk acceptability is a subjective concept and plays little part in modeling.
C) using well-designed models guarantees you success in real life.
D) optimality is not the only criterion for acceptable solutions.

Question

Quizplus · Accepted Answer

Selecting a principle of choice or criteria means that optimality is not the only criterion for acceptable solutions. Other factors such as feasibility, acceptability, and sustainability also need to be taken into account. It is important to consider all relevant factors and weigh them appropriately to make a well-informed decision. It is not guaranteed that all decision makers will make the same choice even with an objective model, and risk acceptability can play a significant role in modeling. Well-designed models can provide helpful insights, but they do not guarantee success in real life.

In the Design Phase of Decision Making, Selecting a Principle