Decision Theory
| Definition: |
A theoretical technique utilizing a group of related constructs to describe or prescribe how individuals or groups of people choose a course of action when faced with several alternatives and a variable amount of knowledge about the determinants of the outcomes of those alternatives. |
| Notes: |
no qualif |
Decision Theory Categories.
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Decision Trees - A graphic device used in decision analysis, series of decision options are represented as branches (hierarchical). |
Decision Theory Definitions and Terms
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