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Managerial Decision Making Under Risk and Uncertainty AbstractThis paper focuses on managerial decision making under risk and uncertainty. Since no one, so far, has studied managers risk attitudes in parallel with their actual behavior when handling risky prospects the area still remains relatively Risk - Wikipedia Risk is the possibility of losing something of value. Values (such as physical health, social status, emotional well-being, or financial wealth) can be gained or lost when taking risk resulting from a given action or inaction, foreseen or unforeseen (planned or not planned).Risk can also be defined as the intentional interaction with uncertainty. ... Uncertainty - Wikipedia Uncertainty refers to epistemic situations involving imperfect or unknown information.It applies to predictions of future events, to physical measurements that are already made, or to the unknown. Uncertainty arises in partially observable and/or stochastic environments, as well as due to ignorance, indolence, or both. It arises in any number of fields, including insurance, philosophy, physics ...
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