| Decision theory: Decision theory is the study of how to make optimal decisions in the face of uncertainty. It is a branch of applied probability theory and analytic philosophy.
Decision theory uses mathematical models to represent decision problems and to identify the best decision to make in a given situation. These models take into account the different options that are available, the probabilities of different outcomes, and the value of different outcomes.
_____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. |
