Decision Theory
Decision Making
Bayes Theorem
A theorem in probability theory named for Thomas Bayes (1702-1761). In epidemiology, it is used to obtain the probability of disease in a group of people with some characteristic on the basis of the overall rate of that disease and of the likelihood of that characteristic in healthy and diseased individuals. The most familiar application is in clinical decision analysis where it is used for estimating the probability of a particular diagnosis given the appearance of some symptoms or test result.
Influence of data display formats on physician investigators' decisions to stop clinical trials: prospective trial with repeated measures. (1/88)
OBJECTIVE: To examine the effect of the method of data display on physician investigators' decisions to stop hypothetical clinical trials for an unplanned statistical analysis. DESIGN: Prospective, mixed model design with variables between subjects and within subjects (repeated measures). SETTING: Comprehensive cancer centre. PARTICIPANTS: 34 physicians, stratified by academic rank, who were conducting clinical trials. INTERVENTIONS: PARTICIPANTS were shown tables, pie charts, bar graphs, and icon displays containing hypothetical data from a clinical trial and were asked to decide whether to continue the trial or stop for an unplanned statistical analysis. MAIN OUTCOME MEASURE: Percentage of accurate decisions with each type of display. RESULTS: Accuracy of decisions was affected by the type of data display and positive or negative framing of the data. More correct decisions were made with icon displays than with tables, pie charts, and bar graphs (82% v 68%, 56%, and 43%, respectively; P=0.03) and when data were negatively framed rather than positively framed in tables (93% v 47%; P=0.004). CONCLUSIONS: Clinical investigators' decisions can be affected by factors unrelated to the actual data. In the design of clinical trials information systems, careful consideration should be given to the method by which data are framed and displayed in order to reduce the impact of these extraneous factors. (+info)A web exercise in evidence-based medicine using cognitive theory. (2/88)
Our aim was to improve clinical reasoning skills by applying an established theory of memory, cognition, and decision making (fuzzy-trace theory) to instruction in evidence-based medicine. Decision-making tasks concerning chest pain evaluation in women were developed for medical students and internal medicine residents. The fuzzy-trace theory guided the selection of online sources (e.g., target articles) and decision-making tasks. Twelve students and 22 internal medicine residents attended didactic conferences emphasizing search, evaluation, and clinical application of relevant evidence. A 17-item Likert scale questionnaire assessed participants' evaluation of the instruction. Ratings for each of the 17 items differed significantly from chance in favor of this alternative approach to instruction. We concluded that fuzzy-trace theory may be a useful guide for developing learning exercises in evidence-based medicine. (+info)Stopping rules for phase II studies. (3/88)
This paper, the second in a series of three papers concerned with the statistical aspects of interim analyses in clinical trials, is concerned with stopping rules in phase II clinical trials. Phase II trials are generally small-scale studies, and may include one or more experimental treatments with or without a control. A common feature is that the results primarily determine the course of further clinical evaluation of a treatment rather than providing definitive evidence of treatment efficacy. This means that there is more flexibility available in the design and analysis of such studies than in phase III trials. This has led to a range of different approaches being taken to the statistical design of stopping rules for such trials. This paper briefly describes and compares the different approaches. In most cases the stopping rules can be described and implemented easily without knowledge of the detailed statistical and computational methods used to obtain the rules. (+info)The economics of 'more research is needed'. (4/88)
BACKGROUND: Results from epidemiology and other health research affect millions of life-years and billions of dollars, and the research directly consumes millions of dollars. Yet we do little to assess the value of research projects for future policy, even amid the ubiquitous assertions that 'more research is necessary' on a given topic. This methodological proposal outlines the arguments for why and how ex ante assessments can inform us about the value of a particular piece of further research on a topic. METHODS: Economics and decision theory concepts-cost-benefit analysis and probability-weighted predictions of outcomes-allow us to calculate the payoff from applied health research based on resulting decisions. Starting with our probability distribution for the parameters of interest, a Monte Carlo simulation generates the distribution of outcomes from a particular new study. Each true value and outcome are associated with a policy decision, and improved decisions are valued to give us the study's contribution as applied research. RESULTS: The analysis demonstrates how to calculate the expected value of further research, for a simplified case, and assess whether it is really warranted. Perhaps more important, it points out what the measure of the value of a further study ought to be. CONCLUSIONS: It is quite possible to improve our technology for assessing the value of particular pieces of further research on a topic. However, this will only happen if the need and possibility are recognized by methodologists and applied researchers. (+info)Caudate clues to rewarding cues. (5/88)
Behavioral studies indicate that prior experience can influence discrimination of subsequent stimuli. The mechanisms responsible for highlighting a particular aspect of the stimulus, such as motion or color, as most relevant and thus deserving further scrutiny, however, remain poorly understood. In the current issue of Neuron, demonstrate that neurons in the caudate nucleus of the basal ganglia signal which dimension of a visual cue, either color or location, is associated with reward in an eye movement task. These findings raise the possibility that this structure participates in the reward-based control of visual attention. (+info)Managing toxic thyroid adenoma: a cost-effectiveness analysis. (6/88)
OBJECTIVE: To examine the cost-effectiveness of therapeutic strategies for patients with toxic thyroid adenoma. DESIGN: A decision analytic model was used to examine strategies, including thyroid lobectomy after a 3-month course of antithyroid drugs (ATDs), radioactive iodine (RAI), and lifelong ATDs followed by either RAI (ATD-RAI) or surgery (ATD-surgery) in patients suffering severe drug reactions. METHODS: Outcomes were measured in quality-adjusted life years. Data on the prevalence of co-incident thyroid cancer, complications and treatment efficacies were derived from a systematic review of the literature (1966-2000). Costs were examined from the health care system perspective. Costs and effectiveness were examined at their present values. Discounting (3% per year), variations of major cost components, and every variable for which disagreements exist among studies or expert opinion were examined by sensitivity analyses. RESULTS: For a 40-year-old woman, surgery was both the most effective and the least costly strategy (Euro 1391),while ATD-RAI cost the most (Euro 5760). RAI was more effective than surgery if surgical mortality exceeded 0.6% (base-case 0.001%). RAI become less costly for women of more than 72 years (more than 66 in discounted analyses). For women of 85, ATD-RAI may be more effective than RAI and have an inexpensive marginal cost-effectiveness ratio (Euro 4975) if lifelong follow-up results in no decrement in quality of life. CONCLUSIONS: Age, surgical mortality, therapeutic costs and patient preference must all be considered in choosing an appropriate therapy. (+info)Disambiguating ambiguous biomedical terms in biomedical narrative text: an unsupervised method. (7/88)
With the growing use of Natural Language Processing (NLP) techniques for information extraction and concept indexing in the biomedical domain, a method that quickly and efficiently assigns the correct sense of an ambiguous biomedical term in a given context is needed concurrently. The current status of word sense disambiguation (WSD) in the biomedical domain is that handcrafted rules are used based on contextual material. The disadvantages of this approach are (i) generating WSD rules manually is a time-consuming and tedious task, (ii) maintenance of rule sets becomes increasingly difficult over time, and (iii) handcrafted rules are often incomplete and perform poorly in new domains comprised of specialized vocabularies and different genres of text. This paper presents a two-phase unsupervised method to build a WSD classifier for an ambiguous biomedical term W. The first phase automatically creates a sense-tagged corpus for W, and the second phase derives a classifier for W using the derived sense-tagged corpus as a training set. A formative experiment was performed, which demonstrated that classifiers trained on the derived sense-tagged corpora achieved an overall accuracy of about 97%, with greater than 90% accuracy for each individual ambiguous term. (+info)The structure of pigeon multiple-class same-different learning. (8/88)
Three experiments examined the structure of the decision framework used by pigeons in learning a multiple-class same-different task. Using a same-different choice task requiring the discrimination of odd-item different displays (one or more of the display's component elements differed) from same displays (all display components identical), pigeons were concurrently trained with sets of four discriminable display types. In each experiment, the consistent group was tested such that the same and different displays of four display types were consistently mapped onto their choice alternatives. The inconsistent group received a conflicting mapping of the same and different displays and the choice alternatives that differed across the four display types but were consistent within a display type. Experiment 1 tested experienced pigeons, and Experiment 2 tested naive pigeons. In both experiments, the consistent group learned their discrimination faster and to a higher level of choice accuracy than did the inconsistent group, which performed poorly in general. Only in the consistent group was the discrimination transferred to novel stimuli, indicative of concept formation in that group. A third experiment documented that the different display classes were discriminable from one another. These results suggest that pigeons attempt to generate a single discriminative rule when learning this type of task, and that this general rule can cover a large variety of stimulus elements and organizations, consistent with previous evidence suggesting that pigeons may be capable of learning relatively unbounded relational same-different concepts. (+info)Decision Theory is a branch of mathematical and philosophical study that deals with the principles, methods, and mathematical models used to make logical decisions under uncertainty, by evaluating and comparing the desirability of various outcomes and their associated risks or uncertainties.
Decision theory is a branch of mathematical and philosophical study that deals with the principles and methods for making decisions under uncertainty. It provides a framework for analyzing and comparing different decision alternatives based on their potential outcomes, risks, and uncertainties. Decision theory takes into account various factors such as probabilities, utilities, values, and preferences to help individuals or organizations make rational and informed choices.
In medical context, decision theory is often applied to clinical decision-making, where healthcare providers need to evaluate different treatment options for patients based on their individual needs, risks, and benefits. Decision theory can help clinicians to weigh the potential outcomes of different treatments, consider the patient's values and preferences, and make evidence-based decisions that maximize the overall health and well-being of the patient.
Decision theory can also be used in public health policy, healthcare management, and medical research to evaluate the effectiveness and efficiency of different interventions, programs, or policies. By providing a systematic and rigorous approach to decision-making, decision theory can help to improve the quality and transparency of healthcare decisions, reduce uncertainty and bias, and promote better outcomes for patients and populations.
"Decision making in a medical context refers to the process by which healthcare professionals, often in collaboration with patients, systematically and deliberately choose among alternative courses of action to address medical problems or make clinical judgments."
Decision-making is the cognitive process of selecting a course of action from among multiple alternatives. In a medical context, decision-making refers to the process by which healthcare professionals and patients make choices about medical tests, treatments, or management options based on a thorough evaluation of available information, including the patient's preferences, values, and circumstances.
The decision-making process in medicine typically involves several steps:
1. Identifying the problem or issue that requires a decision.
2. Gathering relevant information about the patient's medical history, current condition, diagnostic test results, treatment options, and potential outcomes.
3. Considering the benefits, risks, and uncertainties associated with each option.
4. Evaluating the patient's preferences, values, and goals.
5. Selecting the most appropriate course of action based on a careful weighing of the available evidence and the patient's individual needs and circumstances.
6. Communicating the decision to the patient and ensuring that they understand the rationale behind it, as well as any potential risks or benefits.
7. Monitoring the outcomes of the decision and adjusting the course of action as needed based on ongoing evaluation and feedback.
Effective decision-making in medicine requires a thorough understanding of medical evidence, clinical expertise, and patient preferences. It also involves careful consideration of ethical principles, such as respect for autonomy, non-maleficence, beneficence, and justice. Ultimately, the goal of decision-making in healthcare is to promote the best possible outcomes for patients while minimizing harm and respecting their individual needs and values.
'Bayes theorem' in a medical context refers to a mathematical formula for determining the probability of a hypothesis based on prior knowledge (prior probabilities) and new, conditionally relevant evidence, yielding a posterior probability.
Bayes' theorem, also known as Bayes' rule or Bayes' formula, is a fundamental principle in the field of statistics and probability theory. It describes how to update the probability of a hypothesis based on new evidence or data. The theorem is named after Reverend Thomas Bayes, who first formulated it in the 18th century.
In mathematical terms, Bayes' theorem states that the posterior probability of a hypothesis (H) given some observed evidence (E) is proportional to the product of the prior probability of the hypothesis (P(H)) and the likelihood of observing the evidence given the hypothesis (P(E|H)):
Posterior Probability = P(H|E) = [P(E|H) x P(H)] / P(E)
Where:
* P(H|E): The posterior probability of the hypothesis H after observing evidence E. This is the probability we want to calculate.
* P(E|H): The likelihood of observing evidence E given that the hypothesis H is true.
* P(H): The prior probability of the hypothesis H before observing any evidence.
* P(E): The marginal likelihood or probability of observing evidence E, regardless of whether the hypothesis H is true or not. This value can be calculated as the sum of the products of the likelihood and prior probability for all possible hypotheses: P(E) = Σ[P(E|Hi) x P(Hi)]
Bayes' theorem has many applications in various fields, including medicine, where it can be used to update the probability of a disease diagnosis based on test results or other clinical findings. It is also widely used in machine learning and artificial intelligence algorithms for probabilistic reasoning and decision making under uncertainty.
Decision theory
Decision making Decision quality Emotional choice theory Evidential decision theory Game theory Multi-criteria decision making ... Decision theory (or the theory of choice; not to be confused with choice theory) is a branch of applied probability theory and ... Descriptive decision theory: Analyzes how individuals actually make the decisions that they do. Decision theory is a broad ... There are three branches of decision theory: Normative decision theory: Concerned with the identification of optimal decisions ...
Functional Decision Theory
... decision theory, which he named Timeless Decision Theory (TDT). Roughly speaking, Timeless Decision Theory states that, rather ... than the more prominent decision theories, Causal Decision Theory (CDT) and Evidential Decision Theory (EDT). In general, CDT ... Functional Decision Theory (FDT) is a school of thought within decision theory which states that, when a rational agent is ... "Timeless Decision Theory - LessWrong". www.lesswrong.com. Retrieved 2022-11-21. "Updateless Decision Theory - LessWrong". www. ...
Evidential decision theory
In addition to causal decision theory, one could instead opt for timeless or functional decision theory. Causal decision theory ... Evidential decision theory (EDT) is a school of thought within decision theory which states that, when a rational agent is ... 146 Causal Decision Theory at the Stanford Encyclopedia of Philosophy v t e (Decision theory, All stub articles, Statistics ... Evidential decision theory recommends cooperating in this situation, because Aomame's decision to cooperate is strong evidence ...
Decision field theory
The decision field theory can also be seen as a dynamic and stochastic random walk theory of decision making, presented as a ... The name decision field theory was chosen to reflect the fact that the inspiration for this theory comes from an earlier ... Decision field theory (DFT) is a dynamic-cognitive approach to human decision making. It is a cognitive model that describes ... The Decision Field Theory has demonstrated an ability to account for a wide range of findings from behavioral decision making ...
Regret (decision theory)
Competitive regret Decision theory Info-gap decision theory Loss function Minimax Regret (emotion) Wald's maximin model Loomes ... In decision theory, on making decisions under uncertainty-should information about the best course of action arrive after ... Theory & Decision Library. ISBN 90-277-1420-7. Diecidue, E.; Somasundaram, J. (2017). "Regret Theory: A New Foundation". ... and can be measured as the value of difference between a made decision and the optimal decision. The theory of regret aversion ...
Theory and Decision
... is a peer-reviewed multidisciplinary journal of decision science published quarterly by Springer Science+ ... "Theory and Decision - incl. option to publish open access (Editorial Board)". springer.com. Retrieved 2018-09-03. Official ... The journal publishes research in fields such as economics, game theory, management science, and artificial intelligence. " ...
Causal decision theory
... (CDT) is a school of thought within decision theory which states that, when a rational agent is ... Causal Decision Theory denies this. So Causal Decision Theory is false." Recently, a few variants of Death in Damascus have ... Decision making Evidential decision theory Expected utility hypothesis Game theory Newcomb's paradox Ahmed, Arif (2021). ... p. 164) In this case, evidential decision theory recommends that David abstain from Bathsheba, while causal decision theory- ...
Info-gap decision theory
Sniedovich argues that info-gap decision theory is therefore a "voodoo decision theory." 2. info-gap is maximin Ben-Haim states ... an Introduction to Decision Theory, University of Minnesota Press, Minneapolis, MN, 1987. French, S.D., Decision Theory, Ellis ... Info-gap decision theory is radically different from all current theories of decision under uncertainty. The difference ... one should use global decision theory , not local decision theory. info-gap is maximin Ben-Haim (2006, p.xii) claims that info- ...
Outcome primacy
Decision theory). ... in contrast to prospect theory where people tend to ... It was found that this outcome primacy can account for much of the underweighting of rare events in experience based decisions ... Hertwig Barron; Weber Erev (2004). "Decisions from experience and the effect of rare events in risky choice" (PDF). ... Journal of Behavioral Decision Making. 23 (1): 15-47. doi:10.1002/bdm.683. hdl:11858/00-001M-0000-002E-579F-8. ISSN 0894-3257 ...
Thought
Decision theory is a formal model of how ideal rational agents would make decisions. It is based on the idea that they should ... According to decision theory, a decision is rational if the agent chooses the alternative associated with the highest expected ... Buchak, Lara (2016). "Decision Theory". The Oxford Handbook of Probability and Philosophy. Oxford University Press. Perrin, ... This theory is known as the language of thought hypothesis. Inner speech theory has a strong initial plausibility since ...
Luce's choice axiom
Decision theory). ... In probability theory, Luce's choice axiom, formulated by R. ... In cognitive science, it is used to model approximately rational decision processes. Luce, R. Duncan (2005). Individual choice ...
Negativity bias
Theory and Decision. 71 (2): 235-250. CiteSeerX 10.1.1.523.5455. doi:10.1007/s11238-009-9168-9. S2CID 42689544. Theory and ... Kahneman, D.; Tversky, A. (1979). "Prospect Theory: An Analysis of Decision under Risk". Econometrica. 47 (2): 263-291. ... However, it is worth noting that Rozin and Royzman were never able to find loss aversion in decision making. They wrote, "in ... This issue of negativity and loss aversion as it relates to decision-making is most notably addressed by Drs. Daniel Kahneman's ...
Risk aversion
Kahneman, Daniel; Tversky, Amos (March 1979). "Prospect Theory: An Analysis of Decision under Risk". Econometrica. 47 (2): 263 ... Bonilla, Claudio (2021). "Risk aversion, downside risk aversion, and the transition to entrepreneurship". Theory and Decision. ... Arrow, K. J. (1965). "Aspects of the Theory of Risk Bearing". The Theory of Risk Aversion. Helsinki: Yrjo Jahnssonin Saatio. ... One solution to the problem observed by Rabin is that proposed by prospect theory and cumulative prospect theory, where ...
Utilitarian cake-cutting
Theory and Decision. 43 (2): 203. doi:10.1023/a:1004966624893. S2CID 118505359.. See also Weller's theorem. For a similar ... Chambers, Christopher P. (2005). "Allocation rules for land division". Journal of Economic Theory. 121 (2): 236-258. doi: ... Economic Theory. 68 (2): 363-401. arXiv:1510.05229. doi:10.1007/s00199-018-1128-6. ISSN 1432-0479. S2CID 179618. Segal-Halevi, ...
Condorcet winner criterion
Theory and Decision. 75 (1): 59-77.] Laslier, Jean-Francois (2006). "Strategic Approval Voting in a Large Electorate" (PDF). ... Black, Duncan (1958). The Theory of Committees and Elections. Cambridge University Press. Farquharson, Robin (1969). Theory of ... The Theory of Committees and Elections by Duncan Black and Committee Decisions with Complementary Valuation by Duncan Black and ... Black, Duncan (1948). "On the Rationale of Group Decision-making". The Journal of Political Economy. 56 (1): 23-34. doi:10.1086 ...
Naïve cynicism
Theory and Decision. 63 (4): 389-418. doi:10.1007/s11238-007-9034-6. S2CID 189841254. (Articles with short description, Short ... in everyday theories of responsibility assessment: On biased assumptions of bias". The theory of naïve cynicism can be ... Both of these theories, however, relate to the extent that adults credit or discredit the beliefs or statements of others. ... As with naïve cynicism, the theory of naïve realism hinges on the acceptance of the following three beliefs: I am not biased. ...
Level of measurement
Theory and Decision. 13: 1-70. doi:10.1007/bf02342603. S2CID 119401596. Narens, L. (1981b). "On the scales of measurement". ... The theory of scale types is the intellectual handmaiden to Stevens's "operational theory of measurement", which was to become ... ISBN 978-0-19-852367-3. In the jargon of psychological measurement theory, IQ is an ordinal scale, where we are simply rank- ... Stevens proposed his typology in a 1946 Science article titled "On the theory of scales of measurement". In that article, ...
Efficient approximately fair item allocation
Theory and Decision. 67 (1): 65-100. doi:10.1007/s11238-007-9069-8. hdl:10419/22905. ISSN 1573-7187. S2CID 154799897. Gourvès, ... Freeman and Shah in the context of fair public decision making. They proved that, in this case, a PE+PROP1 allocation always ... "Fair Public Decision Making , Proceedings of the 2017 ACM Conference on Economics and Computation". arXiv:1611.04034. doi: ... Algorithmic Game Theory. Lecture Notes in Computer Science. Cham: Springer International Publishing. 10504: 67-79. doi:10.1007/ ...
Ganna Pogrebna
"Models of stochastic choice and decision theories: why both are important for analyzing decisions". Journal of Applied ... Theory and Decision. 71 (4): 473-502. doi:10.1007/s11238-011-9248-5. S2CID 120589384. "FICO on LinkedIn: LIVE NOW: AI and ... Theory and Decision. 68 (1-2): 173-192. doi:10.1007/s11238-009-9152-4. S2CID 53552310. Retrieved 23 January 2023. "Behavioural ... Theory and Decision. 64 (2-3): 395-420. doi:10.1007/s11238-007-9056-0. S2CID 10227276. Retrieved 23 January 2023. "Ganna ...
Uncertainty effect
Sonsino, Doron (2008-03-01). "Disappointment Aversion in internet Bidding-Decisions". Theory and Decision. 64 (2): 363-393. doi ... While expected utility theory and prospect theory differ in terms of how outcomes are evaluated and weighted, they both ... which is central to prospect theory, expected utility theory, and other models of risky choice. Additionally, it has been ... an explanation for certain types of responses to risk that cannot be explained by prospect theory and expected utility theory. ...
Jury theorem
Bernard Grofman; Guillermo Owen; Scott L. Feld (1983). "Thirteen theorems in search of the truth" (PDF). Theory and Decision. ... A decision is accepted whenever at least 2 groups support it, and in each group, a decision is accepted whenever at least 3 ... The group decision is determined by the majority rule. For example, if a majority of voters says "guilty" then the decision is ... "Evolution in collective decision making". Understanding Collective Decision Making: 167-192. 2017. doi:10.4337/ ...
Ambiguity aversion
In decision theory and economics, ambiguity aversion (also known as uncertainty aversion) is a preference for known risks over ... Theory and Decision. 79 (4): 667-688. doi:10.1007/s11238-015-9483-2. hdl:10871/16743. S2CID 56396384. Massari, Filippo; Newton ... If the decision-maker incorporate new information according to a natural generalization of Bayes' rule entailing a set of ... One surprising feature of the results was that the links between choices in the single person decision and those in the games ...
Divide and choose
Algorithmic Decision Theory. Lecture Notes in Computer Science. Berlin, Heidelberg: Springer. 6992: 292-305. doi:10.1007/978-3- ...
Ravi Batra
Theory and Decision. Springer. 3 (1): 1-11. doi:10.1007/BF00139349. S2CID 121130018. Batra, Ravi; Beladi, Hamid (September 2013 ... In the book Batra promoted the Social cycle theory of his spiritual mentor, Sarkar, based on an analysis of four distinct ... In his works, Batra proposes an equitable distribution system known as Progressive Utilization Theory (PROUT) as a means to not ... Prior to 1978 he published advanced theoretical articles and two books, primarily in the field of trade theory. Batra's ...
Rule of Rescue
Theory and Decision. 78 (4): 525-538. doi:10.1007/s11238-014-9434-3. S2CID 18850681. see e.g. https://onlinelibrary.wiley.com/ ... A Theory of Justice Prioritarianism Social equity Triage Utilitarianism McKie, John & Jeff Richardson (2003) "The Rule of ... Resource allocation decision making broadly follows cost-effectiveness analysis (CEA), while emergency room and related ' ... They plead for strict application of cost-effectiveness analysis (QALYs) as solid base of decision making with priorities. In ...
Participation criterion
Duddy, Conal (2013-11-29). "Condorcet's principle and the strong no-show paradoxes". Theory and Decision. 77 (2): 275-285. doi: ... Journal of Economic Theory. 45 (1): 53-64. doi:10.1016/0022-0531(88)90253-0. "Participation failure" is forced in Condorcet ... International Journal of Game Theory. 38 (4): 553-574. doi:10.1007/s00182-009-0170-9. ISSN 0020-7276. S2CID 29563457. Woodall, ...
Chainstore paradox
... and the deterrence theory (weakly dominated theory): Consider the decision to be made by the 20th and final competitor, of ... Selten argues that individuals can make decisions of three levels: Routine, Imagination, and Reasoning. Game theory is based on ... ISBN 0-415-90241-X. Selten, Reinhard (1978). "The chain store paradox". Theory and Decision. 9 (2): 127-159. doi:10.1007/ ... Once the individuals have all their levels of decision, they can decide which answer to use...the Final Decision. The final ...
Ordinal Pareto efficiency
Brams, Steven J.; Edelman, Paul H.; Fishburn, Peter C. (2003-09-01). "Fair Division of Indivisible Items". Theory and Decision ... Bogomolnaia, Anna; Moulin, Hervé (2001-10-01). "A New Solution to the Random Assignment Problem". Journal of Economic Theory. ... Journal of Economic Theory. 131 (1): 231. doi:10.1016/j.jet.2005.05.001. Cho, Wonki Jo; Doğan, Battal (2016-09-01). " ... Journal of Economic Theory. 105 (2): 435-449. doi:10.1006/jeth.2001.2864. ISSN 0022-0531. Fishburn, Peter C. (1996-03-01). " ...
Program equilibrium
Howard, J. V. (May 1988). "Cooperation in the Prisoner's Dilemma". Theory and Decision. Kluwer Academic Publishers. 24 (3): 203 ... Oesterheld, C. (February 2019). "Robust Program Equilibrium". Theory and Decision. Springer. 86: 143-159. doi:10.1007/s11238- ... McAfee, R. P. (May 1984). Effective Computability in Economic Decisions (PDF) (Technical report). University of Western Ontario ... Articles with short description, Short description with empty Wikidata description, Game theory). ...
Ecological rationality
Rather, one should find out the characteristics of the decision environment, and choose a method that the theory puts forward ... rational choice theory, maintains that practical rationality consists in making decisions in accordance with some fixed rules, ... and the Emerging Theory and Practice". Decision Analysis. 8 (1): 10-29. doi:10.1287/deca.1100.0191. ISSN 1545-8490. S2CID ... Theory and Decision. 52 (1): 29-71. doi:10.1023/A:1015516217425. ISSN 1573-7187. S2CID 50335831. Katsikopoulos, Konstantinos V ...
Applied probability theoryNormativePracticeUncertaintyProcessesBayesian AnalysisDescriptive decisionMethodsOptimal decisionsRational2021OutcomesCausalProspect TheoryMathematicalInterdisciplinaryGame TheoryJahrNeuroscienceEmpiricalExpected utility theoryAbstractStatistical theoryFuzzyApproachesArtificial intelligencePhilosophyInvestment DecisionsModelsProblemsProbabilisticSupportLectureDeasonEthicsContrastLogicCambridge UniveHuman DecisionsRiskAnalysisSystemsMoralSubsequentMakersEnablesCriterionConsidersSimulationExplicitlyChoiceClassificationStrategiesIntroductionOutcomeMaking
Applied probability theory1
- not to be confused with choice theory) is a branch of applied probability theory and analytic philosophy concerned with the theory of making decisions based on assigning probabilities to various factors and assigning numerical consequences to the outcome. (wikipedia.org)
Normative5
- There are three branches of decision theory: Normative decision theory: Concerned with the identification of optimal decisions, where optimality is often determined by considering an ideal decision-maker who is able to calculate with perfect accuracy and is in some sense fully rational. (wikipedia.org)
- An emphasis on foundational aspects of normative decision theory (rather than…mehr. (kmla.co.za)
- An emphasis on foundational aspects of normative decision theory (rather than descriptive decision theory) makes the book particularly useful for philosophy students, but it will appeal to readers in a range of disciplines including economics, psychology, political science and computer science. (kmla.co.za)
- Decision theory can be normative or descriptive. (allthescience.org)
- Normative decision theory refers to theories about how we should make decisions if we want to maximize expected utility. (allthescience.org)
Practice7
- Prescriptive decision theory is concerned with predictions about behavior that positive decision theory produces to allow for further tests of the kind of decision-making that occurs in practice. (wikipedia.org)
- J. R. Graham and C. R. Harvey, "The Theory and Practice of Corporate Finance: Evidence from the Field," Journal of Financial Economics, Vol. 60, 2001, pp. 187-244. (scirp.org)
- G. Arnold and P. Hatzopoulos, "The Theory-practice Gap in Capital Budgeting: Evidence from the United Kingdom," Journal of Business Finance and Accounting, Vol. 27, 2000, pp. 603-626. (scirp.org)
- Nevertheless, in practice, once a rigorous estimate of the structural state is available, decisions are usually made based on the decision maker's intuition or experience. (strath.ac.uk)
- 6 The recent article by Drumetz and Pfister (2021a), published first as a (longer) Banque de France working paper (Drumetz and Pfister, 2021b), could be the start of a conversation about how to reconstruct macroeconomics and narrow the deep gulf between theory and practice in both monetary theory and macroeconomics. (intereconomics.eu)
- Basic Principles of the Decision-Making Theory // Methods and Practice in the Education . (quantitativedynamics.org)
- They gain insight into the fact that the theories can be applied in practice," says Ulf Ramberg. (lu.se)
Uncertainty8
- The area of choice under uncertainty represents the heart of decision theory. (wikipedia.org)
- When making decisions, people naturally face uncertainty about the potential consequences of their actions. (lse.ac.uk)
- In Decision Theory with a Human Face , Richard Bradley develops new theories of agency and rational decision-making, offering guidance on how "real" agents who are aware of their bounds should represent the uncertainty they face, how they should revise their opinions as a result of experience and how they should make decisions when lacking full awareness of, or precise opinions on, the relevant contingencies. (lse.ac.uk)
- He specialises in decision theory, formal epistemology and semantics, with a particular interest in individual decision making under uncertainty. (lse.ac.uk)
- and The focus is on decision under risk and under uncertainty, with relatively little on social choice. (kmla.co.za)
- When the set of outcomes corresponding to any given decision is not known, we refer to this situation as decision under uncertainty, the field of study which dominates decision theory. (allthescience.org)
- Decision theory provides a number of suggestions for how to estimate complex probabilities under uncertainty, most of which are derived from Bayesian inference. (allthescience.org)
- Bayesian analysis is also put into the context related to subjective probability to quantify uncertainty and Bayesian decision theory. (lu.se)
Processes8
- The Decision Model and Notation (DMN) is a recent Object Management Group standard for the elicitation and representation of decision models and for managing their interconnection with business processes. (cambridge.org)
- In the manuscript, we first formalize the solution of single-stage decision processes, in which the decision maker has to take only one action. (strath.ac.uk)
- Then, we formalize the solution of multi-stage decision processes, in which multiple actions may be taken over time. (strath.ac.uk)
- After researching different approaches of machine learning, I think that reinforced learning and Markov Decision Processes are appropriate to apply to decision making in a dice game like Yahtzee. (stackexchange.com)
- The following diagrams represent decision theory problems, not training processes (as has been done by Everitt et al. (alignmentforum.org)
- Students are given the opportunity to learn about basic stages of modeling and making decision processes, and, what is the most important, about the inherent limitations of quantitative and formalized methods in economics. (quantitativedynamics.org)
- The approach described here uses opinions from subject matter experts to populate a simple, multiattribute additive model ( 6 ) that combines information from well-established decision analysis methods ( 7 , 8 ) to assist in decision making and prioritization processes. (cdc.gov)
- Greene et decision processes (Shimojo et al. (lu.se)
Bayesian Analysis1
- His work includes significant, original, inspiring and groundbreaking findings in statistical decision theory and Bayesian analysis, as well in statistical applications and consulting. (projecteuclid.org)
Descriptive decision5
- Descriptive decision theory: Analyzes how individuals actually make the decisions that they do. (wikipedia.org)
- In contrast, descriptive decision theory is concerned with describing observed behaviors often under the assumption that those making decisions are behaving under some consistent rules. (wikipedia.org)
- 9 - Causal vs. evidential decision theory, 10 - Bayesian vs. non-Bayesian decision theory, 11 - Game theory I: Basic concepts and zero-sum games, 12 - Game theory II: Nonzero-sum and cooperative games, 14 - Overview of descriptive decision theory, Appendix B - Proof of the von Neumann-Morgenstern theorem, Book DOI: https://doi.org/10.1017/CBO9780511800917. (kmla.co.za)
- Descriptive decision theory refers to theories about how we actually make decisions. (allthescience.org)
- Descriptive decision theories are complex, often unnecessarily so, and they help teach us the ways in which human decisions systematically go wrong. (allthescience.org)
Methods5
- With the approaching of the stipulated implementation date, shipowners need to adopt scientific methods to make decision on low sulfur fuel. (techscience.com)
- Matthews, J 2009, ' Book review: Decision making in the manufacturing environment: Using graph theory and fuzzy multiple attribute decision making methods ', Proceedings of the Institution of Mechanical Engineers, Part B: Journal of Engineering Manufacture , vol. 223, no. 11, pp. 1505. (bath.ac.uk)
- The commentary reviews the origins of AI, the use of machine learning methods, and emerging AI applications such as sensor technologies, robotic devices, or decision support systems. (cdc.gov)
- Topics covered include correlations (relationships) within and between geographical data sets, regression methods, geostatistics, scaling issues affecting spatial analysis and geographic data, and the theory behind spatial decision support systems. (lu.se)
- The course Parties and Political Behaviours explores the theories, methods and empirical results that relate to political decision-making in different political systems. (lu.se)
Optimal decisions1
- In this lecture, we will study theories that determine optimal decisions given assumptions and constraints. (kmla.co.za)
Rational3
- At the time, von Neumann and Morgenstern's theory of expected utility proved that expected utility maximization followed from basic postulates about rational behavior. (wikipedia.org)
- He also leads our Rationality and Choice course ( PH456 / PH301 ), in which students are introduced to theories of rationality and rational decision making and consider the philosophical assumptions underlying the dominant decision, game and social choice models. (lse.ac.uk)
- Seems like a perfect setting for decision theory to step in and guide us towards the rational choice. (johndcook.com)
20211
- In the November/December 2021 issue of Intereconomics, Françoise Drumetz and Christian Pfister examine Modern Monetary Theory (MMT) and approach it from the policy consequences that would follow. (intereconomics.eu)
Outcomes3
- EUT is an analytical quantitative framework that allows the identification of the financially most convenient decisions, based on the possible outcomes of each action and on the probabilities of each structural state occurring. (strath.ac.uk)
- Outcomes in decision theory are usually assigned utility values. (allthescience.org)
- Possible outcomes in a decision theory problem may be positive, negative or both. (allthescience.org)
Causal3
- Now revised and updated, this introduction to decision theory is both accessible and comprehensive, covering topics including decision making under ignorance and risk, the foundations of utility theory, the debate over subjective and objective probability, Bayesianism, causal decision theory, game theory, and social choice theory. (kennys.ie)
- This introduction to decision theory offers comprehensive and accessible discussions of decision-making under ignorance and risk, the foundations of utility theory, the debate over subjective and objective probability, Bayesianism, causal decision theory, game theory, and social choice theory. (kmla.co.za)
- Abbey, Craig K. To send content items to your Kindle, first ensure [email protected] This introduction to decision theory offers comprehensive and accessible discussions of decision-making under ignorance and risk, the foundations of utility theory, the debate over subjective and objective probability, Bayesianism, causal decision theory, game theory, and social choice theory. (prolanguagetraining.com)
Prospect Theory4
- 426798 Prospect Theory and Expected Utility Theory Questions According to prospect theory , which is preferred? (brainmass.com)
- The prospect theory is a decision making theory under conditions of risk. (brainmass.com)
- In this study, we applied a prospect theory based hesitant fuzzy multi-criteria decision-making model to obtain the optimal decision of low Sulphur marine fuel. (techscience.com)
- The innovation of this study is that it is the first-time adopting prospect theory and hesitate fuzzy sets to multi-criteria decision making for low Sulphur marine fuel, which provides an effective decision model for shipping companies under Low Sulphur regulations, and can also be extended to other industries. (techscience.com)
Mathematical3
- Empirical applications of this theory are usually done with the help of statistical and discrete mathematical approaches from computer science. (wikipedia.org)
- These chapters stem from the topical conference series, 'Decision Theory and the Future of AI' which began in 2017 as a collaboration between the Leverhulme Centre for the Future of Intelligence (CFI) and the Centre for the Study of Existential Risk (CSER) at Cambridge, and the Munich Center for Mathematical Philosophy (MCMP) at LMU Munich. (springer.com)
- Decision field theory (DFT), although popular in mathematical psychology, has only recently made the transition to choice modelling for consumer choices. (leeds.ac.uk)
Interdisciplinary1
- Decision theory is an interdisciplinary area of study that concerns mathematicians, statisticians, economists, philosophers, managers, politicians, psychologists and anyone else interested in analyses of decisions and their consequences. (allthescience.org)
Game Theory5
- Amiri, M., Ashrafi, A.. A new approach for ranking decision-making units in data envelopment analysis by using communication game theory. (ac.ir)
- For the sake of comparing and improving the discrimination power of DMUs, some proposed approaches use cooperative game theory for rank-ing DMUs. (ac.ir)
- In this paper, communication game theory, which includes a transferable utility cooperative game and an undirected graph describing limited cooperation between players, can be used to rank DMUs. (ac.ir)
- Nash equilibrium is a concept applied in both game theory and decision theory. (statisticsassignmentexperts.com)
- The Nash equilibrium is often compared with the dominant strategy which is also used in game theory. (statisticsassignmentexperts.com)
Jahr1
- Decision-theory Jahr. (prolanguagetraining.com)
Neuroscience1
- Additionally, integration with the rest of cognitive (aDDM), the drift rate, i.e. the speed at which the decision neuroscience might depend on it. (lu.se)
Empirical1
- and This empirical evidence is often based on experiments and provides the basis for behavioural theories. (kmla.co.za)
Expected utility theory4
- The revival of subjective probability theory, from the work of Frank Ramsey, Bruno de Finetti, Leonard Savage and others, extended the scope of expected utility theory to situations where subjective probabilities can be used. (wikipedia.org)
- In this paper, we present the implementation of expected utility theory (EUT) in those civil engineering decision problems in which decision makers have to act based on the output of SHM. (strath.ac.uk)
- But the Bayesian decision theory deviates from Bernoulli's original expected utility theory in that it offers up an alternative for the traditional criterion of choice of expectation value maximization, as it proposes to choose that decision which has associated with it the utility probability distribution which maximizes the mean of the expectation value and the lower and upper confidence bounds. (aip.org)
- Risk aversion and expected utility theory: A calibration theorem. (lu.se)
Abstract1
- This enables us to go from abstract theories to concrete decisions. (lu.se)
Statistical theory1
- In the 20th century, interest was reignited by Abraham Wald's 1939 paper pointing out that the two central procedures of sampling-distribution-based statistical-theory, namely hypothesis testing and parameter estimation, are special cases of the general decision problem. (wikipedia.org)
Fuzzy2
- S. Wang and C. Hwang, "An Application of Fuzzy Set Theory to the Weighted Average Cost of Capital and Capital Structure Decision," Technology and Investment , Vol. 1 No. 4, 2010, pp. 248-256. (scirp.org)
- For this purpose, the hesitant fuzzy decision matrix is established to collect expert opinions, the maximizing deviation method is adopted to determine criteria weights. (techscience.com)
Approaches1
- Approaches to Linguistic Multi-Attribute Decision Making. (maa.org)
Artificial intelligence1
- This book appeals to students, researchers and professionals working in philosophy and related fields on decision theory applied to artificial intelligence. (springer.com)
Philosophy1
- Decision Theory with a Human Face is available now from Cambridge University Press , who describe it as a "clear and detailed presentation of formal and conceptual philosophical material" which "provides researchers in different fields - philosophy, economics, psychology - with a coherent conceptual framework within which to investigate key issues. (lse.ac.uk)
Investment Decisions3
- This thesis examines the effects of informational imperfections in the financial system on the investment decisions of firms. (warwick.ac.uk)
- A dynamic optimization model is built to examine the combined financial and investment decisions of a firm operating in an asymmetric information environment. (warwick.ac.uk)
- Companies depend on stochastic models to help them make informed investment decisions and to improve business practices. (statisticsassignmentexperts.com)
Models7
- Prescriptive decision theory: Concerned with describing observed behaviors through the use of conceptual models, under the assumption that those making the decisions are behaving under some consistent rules. (wikipedia.org)
- DMN builds on the notion of decision tables and their combination into more complex decision requirements graphs (DRGs), which bridge between business process models and decision logic models. (cambridge.org)
- The textbook models have fallen apart, and a new theory of money is needed. (intereconomics.eu)
- Using decision field theory models in transport modelling: how far have we got and what can we do next? (leeds.ac.uk)
- 3. and To send content items to your Kindle, first ensure [email protected] Whether you are building Machine Learning models or making decisions in everyday life, we always choose the path with the least amount of risk. (kmla.co.za)
- Decision making process is most sensitive to the information that's why classification of Decision making models by this criterion seems most universal. (quantitativedynamics.org)
- While broad theoretical models have been enough has been integrated to pass a decision-threshold. (lu.se)
Problems8
- Chapter Approval-directed agency and the decision theory of Newcomb-like problems is available open access under a Creative Commons Attribution 4.0 International License via link.springer.com. (springer.com)
- Problems in decision theory are set up with the goal of maximizing "utility," the benefit you expect to get from a decision. (johndcook.com)
- A complete solution of decision making problems that includes explicitly the discussed mapping are severely limited by computational complexity (labelled as curse of dimensionality). (cas.cz)
- iii) verifying the developed methodological and algorithmic tools on non-trivial, practically significant, decision-making problems in medicine (diagnostics of secondary lymphedema (concluded)) and economy (trading with futures). (cas.cz)
- Finally, using an example based on a case study, we describe the variables involved in the analysis of SHM decision problems, discuss the possible results and address the issues that may arise in the application of EUT in real-life settings. (strath.ac.uk)
- We focus on a single decision theory called LCDT that modifies CDT to make it myopic while still solving many capabilities problems. (alignmentforum.org)
- Originally, we focused on classic decision theory problems like Newcomb's Problem (see Mark Xu's Open Problems with Myopia for an account of this perspective, called Dumb Decision Theories). (alignmentforum.org)
- Thus, we have decided to instead focus on concrete decision theoretic problems that directly capture the training setups and incentives for deception that we're concerned about. (alignmentforum.org)
Probabilistic1
- Decision analysis -- An analytic technique in which probability theory or probabilistic information processing is used to obtain a quantitative approach to decision making. (cdc.gov)
Support6
- The practical application of this prescriptive approach (how people ought to make decisions) is called decision analysis and is aimed at finding tools, methodologies, and software (decision support systems) to help people make better decisions. (wikipedia.org)
- I evaluate the proposed design principles in three practical settings, in which I apply the principles to design machine learning systems that (i) support treatment decision making for cancer patients, (ii) provide consumers with recommendations on two-sided platforms, and (iii) address a trade-off between efficiency and comfort in the context of autonomous vehicles. (cuvillier.de)
- Delivering clinical decision support services: There is nothing as practical as a good theory. (kcl.ac.uk)
- The Influenza Risk Assessment Tool (IRAT) was developed in response to this need and creates a framework for systematically combining input from influenza experts to support risk management decisions that have important cost implications. (cdc.gov)
- Machine learning (ML), a sub-discipline of AI, has led to the application of internet searches, ecommerce sites, goods and services recommender systems, image and speech recognition, sensor technologies, robotic devices, and cognitive decision support systems (see the blog AI and Workers' Comp ). (cdc.gov)
- Since then, AI applications made possible by machine learning (ML), an AI subdiscipline, include Internet searches, e-commerce sites, goods and services recommender systems, image and speech recognition, sensor technologies, robotic devices, and cognitive decision support systems (DSSs). (cdc.gov)
Lecture1
- Overview of the Decision-Making Theory lecture course for B.A. and M.A. graduate students of Management Department of University. (quantitativedynamics.org)
Deason1
- Deason, Jonathan P. Introduction to Decision Theory. (kmla.co.za)
Ethics1
- He is the author of several books on decision theory, ethics, and risk, including Non-Bayesian Decision Theory (2008), The Dimensions of Consequentialism (Cambridge, 2013), and The Ethics of Technology (forthcoming). (kennys.ie)
Contrast1
- In contrast to most other theories of money, MMT is falsifiable in its core statements, which are based on a balance sheet approach to macroeconomics. (intereconomics.eu)
Logic2
- The goal of this internship is to study the combination of Separation Logic with data theories supported by SMT solvers. (imag.fr)
- In this work, we consider one of the most important types of business knowledge, namely, background knowledge that conceptually accounts for the structural aspects of the domain of interest, and propose decision knowledge bases (DKBs), which semantically combine DRGs modeled in DMN, and domain knowledge captured by means of first-order logic with datatypes. (cambridge.org)
Cambridge Unive1
- Professor Richard Bradley's new book, Decision Theory with a Human Face , is available now from Cambridge University Press. (lse.ac.uk)
Human Decisions1
- Scholars@Duke publication: Gambling and Speculation: A Theory, a History, and a Future of Some Human Decisions. (duke.edu)
Risk2
- In 1738, Daniel Bernoulli published an influential paper entitled Exposition of a New Theory on the Measurement of Risk, in which he uses the St. Petersburg paradox to show that expected value theory must be normatively wrong. (wikipedia.org)
- Small- and large-stakes risk aversion: Implications of concavity calibration for decision theory. (lu.se)
Analysis5
- 129720 Sensitivity Analysis/Bernoulli Process/ Decision Trees Our study group have various prospectives about the following questions . (brainmass.com)
- 431692 Correlate decision theory , probability theory , inference, and generalization in data analysis. (brainmass.com)
- How do decision theory , probability theory , inference, and generalization relate to data analysis? (brainmass.com)
- When decision analysis is used to evaluate differential clinical paths, generally death is set at a utility of zero. (johndcook.com)
- Ranking decision making units (DMUs) is an important topic in data en-velopment analysis (DEA). (ac.ir)
Systems1
- This dissertation contributes a nascent design theory, named the Division-of-Labor framework, for developing complex machine learning systems that can not only address the challenges of big data but also leverage their characteristics to perform more sophisticated analyses. (cuvillier.de)
Moral2
- The aDDM has been showing that humans are sensitive to consequentialist or extended to cover trinary choice as well as simple consumer deontological factors when responding to moral dilemmas decisions (e.g. (lu.se)
- Most theories of moral responsibility focus on one-one cases of moral responsibility, say, one victim blaming one wrongdoer. (lu.se)
Subsequent1
- Its results always serve to a subsequent, often dynamic, decision making. (cas.cz)
Makers1
- value is accumulated, is dependent on the direction of the Recently a number of authors have recommended various decision makers gaze and proportional to the relative value new directions for developing our current best accounts of difference between the fixated and non-fixated alternatives. (lu.se)
Enables1
- This forced-choice measure enables recording of response latency, confidence and decision accuracy, providing a nuanced picture of perspective taking difficulties. (springer.com)
Criterion1
- If the only criterion is money, then the decision will reflect an interest in money. (allthescience.org)
Considers1
- This results in a different probability of picking each alternative depending on how long a decision-maker considers their alternatives. (leeds.ac.uk)
Simulation1
- 92272 CoffeeTime " Probability Theory in Decision Making" simulation questions and recommendation Run the " Probability Theory in Decision Making" simulation and then answer the following questions , in short answer format: a. (brainmass.com)
Explicitly1
- This suggests that the statistics and decision-making process should be explicitly integrated. (johndcook.com)
Choice5
- We evaluated a quick, forced-choice version of the Adult Theory of Mind (A-ToM) test, which was designed to assess such difficulties and comprehensively evaluated by Brewer et al. (springer.com)
- Here we demonstrate that by substituting a forced-choice response format for the free-report format of the Adult Theory of Mind (A-ToM) test (Brewer et al. (springer.com)
- Decision making (DM) is a targeted choice of actions based on given knowledge and preferences. (cas.cz)
- His research involves bridging the gap between these disciplines and his work thus far has looked extensively into the use of Decision Field Theory in choice modelling. (leeds.ac.uk)
- In his 'The Paradox of Choice: Why More is Less,' Barry Schwartz stipulates the fact that 'freedom of choice' and decision making in the American economy has led to so many discontented people. (allthescience.org)
Classification1
- Le présent article analyse la prescription rationnelle et ses indicateurs, la prescription non optimale, la classification des erreurs de médication, et les moyens permettant de réaliser une prescription de qualité en soins de santé dans le monde et en Arabie saoudite. (who.int)
Strategies2
- The advantage of the presented implementation is the optimization of decision strategies in SHM. (strath.ac.uk)
- In decision-making theory, every player uses a mixed strategy, one that is perfectly suited for them against the strategies employed by other players. (statisticsassignmentexperts.com)
Introduction3
- A comprehensive and accessible introduction to all aspects of decision theory, now with new and updated discussions and over 140 exercises. (kennys.ie)
- Test bank Questions and Answers of Chapter 20: An Introduction to Decision Theory. (kmla.co.za)
- introduction to decision theory Quiz Torre, Leendert 2011 to abide by our usage policies results. (kmla.co.za)
Outcome2
- For example, 'Decision X leads to Outcome Y', 'Decision Y leads to Outcome Z', and so on. (allthescience.org)
- The expected utility of a decision is computed as the sum of the probability of each possible outcome multiplied by the utility of each outcome. (allthescience.org)
Making6
- In recent decades, there has also been increasing interest in "behavioral decision theory", contributing to a re-evaluation of what useful decision-making requires. (wikipedia.org)
- This paper thus sheds light on capital structure decision making. (scirp.org)
- Decision-making quality is substantially influenced by the mapping used. (cas.cz)
- Its main theme is that such imperfections are relevant for the dynamic aspects of investment decision making, for they affect the cost of flow of new financing. (warwick.ac.uk)
- Value in decision making is ultimately assigned according to what the people involved find to be of worth. (allthescience.org)
- It could be too late, to wake up with robots around, perfect tax-payers, making democratic decisions, sending each other SMS messages from robot to robot. (4pt.su)
