An examiner asks a student: “This theory is a theory of how rational individuals should behave under risk and uncertainty. The theory suggests that decision-making means the adoption and application of rational choice for the management of a private, business, or governmental organization in an efficient manner. What is the theory?” Help the student and name the theory

Другие предметы Университет Теория рационального выбора теория рационального выбора теория принятия решений поведение под риском управление организацией эффективность в управлении Новый

Based on the description provided by the examiner, the theory in question is most likely the Expected Utility Theory. This theory is a cornerstone of decision-making under risk and uncertainty and is widely used in economics and other fields to explain how rational individuals should make choices to maximize their utility or satisfaction.

Let's break down the key points to understand why this is the correct answer:

1. Rational individuals: Expected Utility Theory assumes that individuals are rational and make decisions to maximize their expected utility.
2. Risk and uncertainty: The theory specifically addresses decision-making situations where outcomes are uncertain and involve risk.
3. Decision-making: It provides a framework for making choices that maximize the expected value of utility, which is a measure of satisfaction or benefit.
4. Application: The theory is applicable in various contexts, including private, business, and governmental organizations, where efficient management is crucial.

By understanding these aspects, you can see why Expected Utility Theory fits the description given by the examiner. It offers a structured approach to making rational choices in uncertain environments, which is essential for effective management and decision-making.