Ökten & Clark Theorem

The Ökten & Clark Theorem relates to decision-making under uncertainty. It provides a framework for understanding how individuals choose between different options when faced with incomplete information. Essentially, the theorem suggests that people can often make better decisions by estimating the likelihood of various outcomes and considering the potential gains or losses associated with each choice. This approach helps clarify the trade-offs involved, guiding individuals toward more rational and informed decisions, even in complex or uncertain situations.