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decision theory

noun

, Statistics.
  1. the theory of making decisions based on assigning probabilities to various factors and assigning numerical consequences to the outcome.

decision theory

noun

  1. See game theory
    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

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Word History and Origins

Origin of decision theory1

First recorded in 1960–65

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