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Perfect Knowledge Management

By Rothschild, B. J.

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Book Id: WPLBN0000219484
Format Type: PDF eBook
File Size: 0.2 MB
Reproduction Date: Available via World Wide Web.
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Title: Perfect Knowledge Management  
Author: Rothschild, B. J.
Language: English
Subject: United Nations., Food and Agriculture Organization of the United Nations. FAO agriculture series, Agriculture
Collections: United Nations Food and Agriculture Organization Collection
Publication Date:
Publisher: Food and Agriculture Organization of the United Nations; Digitizer: Fao


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Rothschild, B. J. (n.d.). Perfect Knowledge Management. Retrieved from

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Excerpt: If in fact O were known - that is, if it were known in advance whether a year class was G, P, or C, then the correct course of action would be obvious (Figure 2). That is a) If O=G, choose H and gain 25 units. b) If O=P, choose L and gain 5 units. c) If O=C, choose Z and gain -5 units. Each action would thus, given that O is known, maximize the return. But, as it is in the real world of fisheries O is never known with certitude. Thus, procedures need to be applied which take into account the uncertainty that is associated with O.


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