decision theory


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

Origin of decision theory

1
First recorded in 1960–65

Words Nearby decision theory

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

British Dictionary definitions for decision theory

decision theory

noun
  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

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