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Redziak Z.

2013

tom nr 1(90)

211-226

This article presents selected aspects of risk in decision-making. It is meant for both those focused more on theory and on practice who deal with optimization of decision-making effectiveness. It defined the notion of risk through the analysis of the relation between risk and uncertainty. The issues of making risky decisions includes discussion of an individual scale of preferences, distortions which appear in the course of assessing the probability of certain states of things or phenomena and finally the principle of maximization of expected utility. The article is concluded with a presentation of the Perspective Theory. General assumptions linked with risk taking were followed by examples of their usage. The author also discussed the quantitative tools supporting decision-making processes and whose able usage may facilitate making resolutions of risky decisions.