optimal decision

Such theories assume that individuals have the time, knowledge and information processing power to make optimal decisions.

Then, a Pareto optimal decision associated with the goal is found automatically.

Individuals or organizations are called rational if they make optimal decisions in pursuit of their goals.

Accurate modeling of distribution operations supports optimal decision making at the control center and in the field.

Finally, by definition, the optimal decision rule is the one that achieves the best possible value of the objective.

It is a type of optimal decision problem.

Such algorithms cannot guarantee to return the globally optimal decision tree.

The problem of finding the optimal decision is a mathematical optimization problem.

It follows that if all people in the economy make optimal decisions, these fluctuations are caused by something outside the decision-making process.

Each of these problems can have alternative solutions and an optimal decision must be tailored for each individual firm.

We can then define an optimal decision as one that maximizes :

When not including uncertainty, you find the optimal decision using only , the expected value of the uncertain quantity.

An optimal decision is then a decision whose robustness is the largest.

An optimal decision is a decision such that no other available decision options will lead to a better outcome.

This is a descriptive model that attempts to explain why individuals make a decision, rather than propose an optimal decision.

The model is descriptive: it tries to model real-life choices, rather than optimal decisions.

Since the normative, optimal decision often creates hypotheses for testing against actual behaviour, the two fields are closely linked.

Evolutionary algorithms have been used to avoid local optimal decisions and search the decision tree space with little a priori bias.

Formal Bayesian inference therefore automatically provides optimal decisions in a decision theoretic sense.

His critique, which dates from the 1960s, is still relevant-economists still spend most of their time on optimal decisions without taking institutions into account.

If it can observe, it will so that it can make the optimal decision.

Optimal Decisions: principles of programming.

Invariance: Choose the optimal decision rule which satisfies an invariance requirement.

Many of these algorithms were developed in the field of computer science to help robots and computers make optimal decisions in an interactive environment.

A loss function is Fisher consistent if the population minimizer of the risk leads to the Bayes optimal decision rule.