Economics of Decisions

Babak Jafarizadeh*

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapter


All models are approximations. In this chapter we discuss key approximations for economic decision models. Finance theory shows the relationship between uncertainty and value. It tells us what we should expect in return for taking economically risky opportunities. This understanding is key to a consistent comparison of our courses of action. We will discuss that project decisions should be for the benefit of their real owners, the investors.

Original languageEnglish
Title of host publicationSpringerBriefs in Petroleum Geoscience and Engineering
Number of pages30
ISBN (Electronic)9783030961374
ISBN (Print)9783030961367
Publication statusPublished - 2022

Publication series

NameSpringerBriefs in Petroleum Geoscience and Engineering
ISSN (Print)2509-3126
ISSN (Electronic)2509-3134

ASJC Scopus subject areas

  • Geotechnical Engineering and Engineering Geology
  • Fuel Technology
  • Engineering (miscellaneous)


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