Options (James)

Living / Dead Option

An option is living if both of its hypotheses are live. Otherwise it is dead.

Forced / Avoidable Option

An option is forced if one must choose one or the other. Otherwise it is avoidable.

Momentous / Trivial Option

An option is trivial if either

(a) the opportunity is not unique,
(b) the stake is insignificant, or
(c) the decision is reversible.
Thus an option is momentous if
(a) the opportunity is unique,
(b) the stake is significant, and
(c) the decision is irreversible.
Genuine Option A genuine option is one which is (a) living, (b) momentous, and (c) forced.

Richard Lee, rlee@comp.uark.edu, last modified: 15 February 1999