Decision Theory
Categories: Financial Theory, Education
Leave it to academics to add math and big words to stuff we do every day. Next we'll have Walking Theory and Snoring Theory. There already is Pooping Theory. Seriously.
Decision Theory is the leveled-up version of making decisions. It involves the use of mathematical formulas and structured processes to select among possible choices to arrive at the optimal one. The gist is that metrical weightings are given to probabilities along a tree. If it turns out that the eventuality of a given goal is equally good and/or achievable in comparison with another, it almost doesn't matter which path you choose along the tree: either path will most likely yield about the same reward.
On your exam, however, don't write, "It just doesn't matter..." Even if it doesn't.