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The method of defining the utility function can be briefly described as follows: the decision maker (for example, a contract engineer, building site manager) is faced with a choice between a certitude of a given result (a monetary value), and a lottery was to extreme results.
Suppose the marketing manager is faced with the following problem: What would be the increase in brand share from the current level of 12.2%, if he keeps the price unchanged but augments advertising from $3.3 million to $3.55 million between the first and the second quarter?
However, when implementing a gillnet fishery, our manager is faced with a trade-off with respect to the choice of mesh size.
The need for a decision arises in business because a manager is faced with a problem and alternative courses of action are available.
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The former Ajax, Barcelona and Bayern Munich manager is facing an uncertain future at Old Trafford after failing to win in eight games across all competitions.
Meanwhile, the band's manager is facing deportation after losing his identity papers, and Lester is gearing up for a potentially combustive mixed-race affair with photographer Sarah Janet Montgomeryy).
The Ibrox manager is facing mounting pressure after his side suffered a woeful defeat to part-time Alloa in Wednesday's Petrofac Training Cup semi-final.
The Arsenal manager is facing increasing pressure to stand down at the end of a dismal season in which his side have slumped to sixth place in the Premier League, 33 points behind the leaders Manchester City.
Guus Hiddink wants "the most powerful squad possible", but Chelsea's interim manager is facing questions over the future and fitness of his two back-up strikers, Loïc Rémy and Radamel Falcao, who is back to "square one" after another thigh injury.
Though Rooney's discontent resides in his relationship with Ferguson, rather than Moyes, the new manager is facing a reprise of the summer of 2004 at Everton when, to quote the chapter of one of the player's various autobiographies, he told Moyes: "I don't want to play for you ever again".
That kind of hot-headedness betrays the extent of the pressure the St Mirren manager is facing.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com