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28 October, 10:34

Determining the best payoff for each alternative and choosing the alternative with the "best of the best" is the approach called:

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  1. 28 October, 10:36
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    Assuming that is concerning financial investment, it would seem that the answer is any concept which involves calculating the financial feasibility of a project. For example, NPV, IRR, ARR, payback periods, etc.
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