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Daniel Kahneman (/ ˈ k ɑː n ə m ə n /; Hebrew: דניאל כהנמן; March 5, 1934 – March 27, 2024) was an Israeli-American psychologist best known for his work on the psychology of judgment and decision-making as well as behavioral economics, for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences together with Vernon L. Smith.
The mythological judgement of Paris required selecting from three incomparable alternatives (the goddesses shown).. Decision theory or the theory of rational choice is a branch of probability, economics, and analytic philosophy that uses the tools of expected utility and probability to model how individuals would behave rationally under uncertainty.
Decision Science and Technology is a compilation of chapters written in honor of a remarkable man, Ward Edwards. Among Ward's many contributions are two significant accomplishments, either of which would have been enough for a very distinguished career. First, Ward is the founder of behavioral decision theory.
His book Applied Statistical Decision Theory with Robert Schlaifer introduced the idea of conjugate prior distributions.; A lecture of his in the 1960s concerning the use of Bayesian methods for betting on horses gave John Craven USN, a US Navy scientist the idea of using Bayesian methods to search for a missing US Air Force hydrogen bomb lost near Palomares, Spain in the 1966 Palomares B-52 ...
His courses on statistical decision theory taught at Carnegie-Mellon influenced Edward C. Prescott and Robert Lucas, Jr., [4] influential figures in the development of new classical macroeconomics and real business-cycle theory. DeGroot's undergraduate text, Probability and Statistics, published in 1975, is widely recognized as a classic textbook.
As a philosopher, Jeffrey specialized in epistemology and decision theory.He is perhaps best known for defending and developing the Bayesian approach to probability.. Jeffrey also wrote, or co-wrote, two widely used and influential logic textbooks: Formal Logic: Its Scope and Limits, a basic introduction to logic, and Computability and Logic, a more advanced text dealing with, among other ...
James Orvis Berger (born April 6, 1950, in Minneapolis, Minnesota) [1] is an American statistician best known for his work on Bayesian statistics and decision theory. He won the COPSS Presidents' Award, one of the two highest awards in statistics, in 1985 at the age of 35. He received a Ph.D. in mathematics from Cornell University in 1974.
Introduction to statistical decision theory. Author: John W. Pratt, Howard Raiffa, and Robert Schlaifer Publication data: preliminary edition, 1965. Cambridge, Mass.: MIT Press, 1995. Description: Extensive exposition of statistical decision theory, statistics, and decision analysis from a Bayesian standpoint. Many examples and problems come ...