the theory of making decisions based on assigning probabilities to various factors and assigning numerical consequences to the outcome.
Words nearby decision theory
Origin of decision theory
First recorded in 1960–65
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British Dictionary definitions for decision theory
statistics the study of strategies for decision-making under conditions of uncertainty in such a way as to maximize the expected utilitySee also game theory
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