ABSTRACT
D uring every waking moment we make decisions with uncertain outcomes. We intuitively weigh the value (payoff ) of these outcomes, consider the risks, and make our decisions. In some instances the payoff is immediate, such as that of a wager at a casino table. Other decisions, such as deciding how to invest a significant sum of money, may require decades before the outcome is known and can be evaluated. And then there are those apparently insignificant decisions we make daily that actually have a greater impact on our lives than we can imagine when the decision is made.
