Writing_II - P 2 Value V 1 V 2 V 3 V 4 2. Using the above...

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PLS 200 Prof. Charles W. Ostrom, Jr. INTRODUCTION TO POLITICAL SCIENCE Due: 3 November 2003 Writing Assignment #2 Part I. 1. Identify a policy or political issue involving choice involving two alternatives made under uncertainty. Write a paragraph providing a short description of the decision involved. Part II: You must provide the following information (assuming that you have two alternatives each of which has two possible outcomes) Alternatives A 1 A 2 Outcomes O 1 O 2 O 3 O 4 Probabilities P 1
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Unformatted text preview: P 2 Value V 1 V 2 V 3 V 4 2. Using the above information construct a decision tree for the A1 and A2 that includes probabilities, outcomes, and value. 3. Derive the expected value calculation that a rational student will go through in making the decision to attend class. Part III Write a paragraph discussing the ways in which the expected value model in Part II makes it possible to explain and understand the decision you introduced in Part I....
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