Explain the difference between risk and ambiguity

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Reference no: EM133190244

In your initial post to the discussion, answer the following questions:

Explain the difference between risk and ambiguity.

How might decision making differ in a risky situation versus an ambiguous one?

How have you handled making a decision under these circumstances in real life? Explain the situation and describe how you worked through your own decision-making process.

Reference no: EM133190244

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