In decision making under uncertainty,the decision maker considers situations in which several outcomes are possible for each course of action.In this case,the decision maker can estimate the probability of occurrence of the possible outcomes.

Question

Quizplus · Accepted Answer

In decision making under uncertainty, the decision maker cannot estimate the probability of occurrence of the possible outcomes with certainty, which differentiates it from decision making under risk where probabilities are known or can be estimated.

In Decision Making Under Uncertainty,the Decision Maker Considers Situations in Which