Decision theory, as it has grown up in recent years, is a formalization of the problems involved in making optimal choices. In a certain sense — a very abstract sense, to be sure — it incorporates among others operations research, theoretical economics, and wide areas of statistics, among others.


p. 55 - The Economics of Information (1984)

Kenneth Arrow Quotes

Decision theory, as it has grown up in recent years, is a formalization of the problems involved in making optimal choices. In a certain sense — a...

Decision theory, as it has grown up in recent years, is a formalization of the problems involved in making optimal choices. In a certain sense — a...

Decision theory, as it has grown up in recent years, is a formalization of the problems involved in making optimal choices. In a certain sense — a...

Decision theory, as it has grown up in recent years, is a formalization of the problems involved in making optimal choices. In a certain sense — a...