Decision Theory

Decision Theory: Tradeoffs mean you’ll have to give up one thing to get another.

Kristi Dawn Riggs
Upskilling

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trade-off

You walk into a mall to buy a wallet, on one side is a store called Dollar General, and on the other side, there is a store called Gucci. Do you buy a $550 wallet made in Italy with a lifetime warranty or a $1 wallet made in China? You’ll have to decide if you’ll trade quality for price or pay more for…

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Kristi Dawn Riggs
Upskilling

Advisor, University Faculty Adjunct, M.A. Georgetown University.