Suppose we have the following decision matrix for choice under uncertainty, with two states (s₁ and s₂) and three actions (A, B and C).

s₁ s₂
A 1 10
B 2 9
C 3 5

Now consider the corresponding risk-payoff matrix, and fill in the correct value for X.
s₁ s₂
A 2 0
B 1 1
C 0 X

Q&A Education