Practical value in decision analysis

Practical value in decision analysis

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"Utility is a theoretical concept that cannot be observed or measured in the real world. Hence, it has no practical value in decision analysis." Discuss this statement.

Reference no: EM13967545

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Practical value in decision analysis : "Utility is a theoretical concept that cannot be observed or measured in the real world. Hence, it has no practical value in decision analysis." Discuss this statement.

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