Decision analysis represents a practical framework for environmental decision making in the face of uncertainty. Aa Aa Aa The conservation of species and ecosystems represents a fundamental challenge ...

Decision theory provides a structured framework for analysing how individuals and institutions make choices amidst uncertainty. It combines the rigour of mathematical models—such as expected utility ...

The purpose of our nervous system is to allow us to successfully interact with our environment. This normative idea is formalized by decision theory that defines which choices would be most beneficial ...

A new theory of economic decision-making offers an explanation as to why humans, in general, make decisions that are simply adequate, not optimal. A new theory of economic decision-making from Mina ...

In many statistical decision problems, the observations can be summarized in a single sufficient statistic such that the likelihood ratio for any two distributions in the family under consideration is ...

Bower, Joseph L. "Descriptive Decision Theory from the 'Administrative' Viewpoint." Chap. 3 in The Study of Policy Formation, edited by Raymond A. Bauer and Kenneth J. Gergen. New York: Free Press, ...

BOSTON, MA—Howard Raiffa, Harvard University’s Frank Plumpton Ramsey Professor of Managerial Economics Emeritus (a joint endowed chair at Harvard Business School and Harvard Kennedy School), who was ...

TROY, N.Y. — A new theory of economic decision-making from Mina Mahmoudi, a lecturer in the Department of Economics at Rensselaer Polytechnic Institute, offers an explanation as to why humans, in ...