The ___________________ ____ provides us with an upper limit for how much we should pay for additional information to improve our decision.
A) expected value of perfect information (EVPI)
B) expected value under risk (EVUR)
C) expected monetary value (EMV)
D) expected value under certainty (EVUC)
Question 2
The ___________________ _ is the expected monetary value that corresponds to the best alternative when making a decision under risk.
A) expected value of perfect information (EVPI)
B) expected value under risk (EVUR)
C) expected monetary value (EMV)
D) expected value under certainty (EVUC)
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