decision theory

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decision theory

[di′sizh·ən ‚the·ə·rē]
(systems engineering)
A broad spectrum of concepts and techniques which have been developed to both describe and rationalize the process of decision making, that is, making a choice among several possible alternatives.

decision theory

(probability)
A branch of statistics concerning strategies for decision making in non-deterministic systems. Decision theory seeks to find strategies that maximise the expected value of a utility function measuring the desirability of possible outcomes.
References in periodicals archive ?
Professor Enrico Diecidue teaches Uncertainty, Data & Judgment (MBA, EMBA), Management Decision Making (MBA), Risk Management (MBA), Executive modules on decision-making and risk management (EDP), and Decision Sciences (Ph.
The editorial mission of this journal is to publish empirical, theoretical, or applied research articles that will contribute significantly to the marketing and decision science literature.
Toshiba Corporation, a company that manufactures and markets advanced electronic and electrical products, has awarded a contract to Decision Sciences International Corporation, an advanced technology provider of security and detection systems.
With muLearn, customers will have access to thousands of business problems Mu Sigma solves, our perspectives on the world of Decision Sciences and research that Mu Sigma invests in.
Click here for the Center for Decision Sciences at Columbia Business School.
Assistant Professor, Department of Information & Decision Sciences, University of Illinois at Chicago
Schroeder, an associate professor of decision sciences at Valparaiso.
Clemons is associate professor in the decision sciences department at The Wharton School of the University of Pennsylvania.
The EXPLOR Award is a significant recognition of our work measuring emotions quantitatively and using the decision sciences to gain real insight into the underlying motivations of shopper choice," said Will Leach, director, strategic insights, PepsiCo.
Decision Quality: Value Creation from Better Business Decisions draws from the writers' decades-deep foundation in decision theory, behavioral decision sciences, and real-world practice.
The timely availability of Internet technology provides an expedient and effective way to reach educators and provide options to them for implementing data-driven decision-making with the use of statistical analysis and decision sciences commonly used in other sectors.
CPAs who wish to gain more knowledge about using models might turn to courses in decision sciences or quantitative methods at a local university.

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