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Definition: Plausibility Theory is a decision making concept that replaces the expected values calculation of Bayesian Theory with a risk threshold that is more resembling the way decision makers actually (should) make decisions. |
Learn more about Plausibility Theory More on individual decision making: Anchoring Bias, Bayesian Theory, Black Swan Theory, Bounded Rationality, Cognitive Bias, more... You may also like: Full-time MBA, Executive MBA, Executive Education, Online MBA. MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration. We like to keep things short, and provide links to learn more about your subject.
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