The mathematical study of strategies for optimal decision-making between options involving different risks or expectations of gain or loss depending on the outcome. Compare with game theory.
More example sentences
- Current practitioners make largely ad hoc use of statistics, probability, decision theory, graph theory, and tools from artificial intelligence and expert systems design.
- The other main direction of his work was to study gambling as a source to stimulate problems in probability and decision theory.
- This sort of reasoning is a simple example from the branch of logic called decision theory.
Definition of decision theory in:
- The British & World English dictionary