Decision theory

decision theory
systematic approach to making decisions especially under uncertainty.

DECISION THEORY - a body of knowledge and related analytical techniques of different degrees of formali...
DECISION TREE - Schematic way of representing alternative sequential decisions and the possible outcome...

Decision Theory
An interdisciplinary approach to determine how decisions are made given unknown variables and an uncertain decision environment framework.

[+] Decision theory‎ (12 C, 191 P)
[Ã-] Demand for money‎ (2 P)
[+] Demographic economics‎ (5 C, 57 P) ...

Single person decision theory is based on the viewpoint of an individual who must make a decision under conditions of uncertainty. State probabilities are no longer objective.

Decision theory can be used to assist in the process of decision making. Specific techniques used in decision making include heuristics and decision trees.

rule: Either (1) a function that maps from the current state to the agent's decision or choice or (2) a mapping from the expressed preferences of each of a group of agents to a group decision. The first is more relevant to decision theory and ...

See also: Optimal, Personal finance, Mergers, Acquisitions, Expected value