7. How can decision theory be used to analyze group decision making processes?
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7. How can decision theory be used to analyze group decision making processes?
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- How does decision theory account for intertemporal decision-making, where choices have long-term consequences?How can decision theory be effectively applied in management to improve decision-making processes and outcomes?Define classical decision theory and behavioral theory of decision making with examples and the pros & cons of group decision making in short.