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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 is a peer-reviewed academic journal covering research about decision making within the boundaries of an organization, as well as decisions involving inter-firm coordination. According to the 2023 Journal Citation Reports , Decision Sciences has an impact factor of 1.5, placing it in the third quartile (286/401) of journals in the ...
Independence of irrelevant alternatives (IIA) is an axiom of decision theory which codifies the intuition that a choice between and should not depend on the quality of a third, unrelated outcome . There are several different variations of this axiom, which are generally equivalent under mild conditions.
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.
Decision analysis (DA) is the discipline comprising the philosophy, methodology, and professional practice necessary to address important decisions in a formal manner. . Decision analysis includes many procedures, methods, and tools for identifying, clearly representing, and formally assessing important aspects of a decision; for prescribing a recommended course of action by applying the ...
In particular types of research, including particle physics, genome sequencing and clinical trials, a paper's author list can run into the hundreds. In 1998, the Collider Detector at Fermilab (CDF) adopted a (at that time) highly unorthodox policy for assigning authorship. CDF maintains a standard author list. All scientists and engineers ...
Causal decision theory (CDT) is a school of thought within decision theory which states that, when a rational agent is confronted with a set of possible actions, one should select the action which causes the best outcome in expectation.
Regret theory is a model in theoretical economics simultaneously developed in 1982 by Graham Loomes and Robert Sugden, [1] David E. Bell, [2] and Peter C. Fishburn. [3] Regret theory models choice under uncertainty taking into account the effect of anticipated regret. Subsequently, several other authors improved upon it. [4]