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The following matrix gives the payoffs (e.g. NPV) for three alternatives and three possible states of nature: Which alternative would be chosen under the (a)
The following matrix gives the payoffs (e.g. NPV) for three alternatives and three possible states of nature: Which alternative would be chosen under the (a) Laplace principle, (b) maximin rule, (c) maximax rule, (d) Hiurwicz rule with =0.75 Explain your logic and report all numerical calculations. Answer : Select: [ A1 | A1 | A3 | A3 ]
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