decision theory

  1. the theory of making decisions based on assigning probabilities to various factors and assigning numerical consequences to the outcome.

Origin of decision theory

First recorded in 1960–65

Words Nearby decision theory Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

British Dictionary definitions for decision theory

decision theory

  1. statistics the study of strategies for decision-making under conditions of uncertainty in such a way as to maximize the expected utility: See also game theory

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012