Think about a decision situation you are currently facing. • What are your current alternatives? • What are your uncertainties? • What options can you create to enable a larger set of alternatives in...

Think about a decision situation you are currently facing.

• What are your current alternatives?

• What are your uncertainties?

• What options can you create to enable a larger set of alternatives in the future upon revelation of the outcome of an uncertainty?

• Which uncertainty will most likely be revealed?

• What future alternatives will be created by your option?

• Draw the decision tree and calculate the option value.