9. Why is the maximization of expected monetary value (that is, EP with the payoffs expressed in...
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9. Why is the maximization of expected monetary value (that is, EP with the payoffs expressed in terms of money) not always a reasonable criterion for decision-making? What problems does this create for the decision maker?
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Statistics Probability Inference And Decision
ISBN: 9780030778056
1st Edition
Authors: Robert L. Winkler, William L. Hays
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