Tag: "Stochastic dominance"
Planning under Uncertainty
Let’s say that the board have sketched a future desired state (value of equity) of the company and that you are left to find if it is possible to get there and if so – the road to take.
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The Value of Information
Enterprise risk management only has value to those who know that the future is uncertain
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Selecting Strategy
When there is no uncertainty the maximum return criterion can be used to rank strategies. With uncertainty we have to look for the strategy that maximizes the firms expected utility.
