decision theory
noun Statistics.
the theory of making decisions based on assigning probabilities to various factors and assigning numerical consequences to the outcome.
Origin of decision theory
First recorded in 1960–65
Words nearby decision theory
decipher,
decision,
decision procedure,
decision support system,
decision table,
decision theory,
decision tree,
decision-making,
decisive,
decius,
deck
British Dictionary definitions for decision theory
decision theory
noun
statistics
the study of strategies for decision-making under conditions of uncertainty in such a way as to maximize the expected utility
See also game theory