What are the elements of a decision? As an MBA, do you see similarities with conducting a cost-benefit analysis? What is opportunity loss or regret and how might it be used in everyday life? Please explain the value of perfect information and how we could

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What are the elements of a decision? As an MBA, do you see similarities with conducting a cost-benefit analysis? What is opportunity loss or regret and how might it be used in everyday life? Please explain the value of perfect information and how we could use the Expected Value of Perfect Information (EVPI)?

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