Expected value may be measured and expected utility tempers or enhances these valuations. However, expected utility is an inexact measure. Keeping this in mind as well as how expectations may vary across individuals, respond to the following:
Value-focused thinking suggests that the maximization of expected utility provides a path to superior decision making. Do you think this is really how people think?
When does this thinking break down?
When does value-focused thinking work well?
Please put In approximately 400-500 words. Apply APA standards to citation of sources and references.
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