An Introduction to Decision Theory

An Introduction to Decision Theory PDF

Author: Martin Peterson

Publisher: Cambridge University Press

Published: 2017-03-30

Total Pages: 351

ISBN-13: 1107151597

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A comprehensive and accessible introduction to all aspects of decision theory, now with new and updated discussions and over 140 exercises.

An Introduction to Decision Theory

An Introduction to Decision Theory PDF

Author: Martin Peterson

Publisher: Cambridge University Press

Published: 2017-03-30

Total Pages: 351

ISBN-13: 1108179525

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Now revised and updated, this introduction to decision theory is both accessible and comprehensive, covering topics including decision making under ignorance and risk, the foundations of utility theory, the debate over subjective and objective probability, Bayesianism, causal decision theory, game theory, and social choice theory. No mathematical skills are assumed, with all concepts and results explained in non-technical and intuitive as well as more formal ways. There are now over 140 exercises with solutions, along with a glossary of key terms and concepts. This second edition includes a new chapter on risk aversion as well as updated discussions of numerous central ideas, including Newcomb's problem, prisoner's dilemmas, and Arrow's impossibility theorem. The book will appeal particularly to philosophy students but also to readers in a range of disciplines, from computer science and psychology to economics and political science.

Elementary Decision Theory

Elementary Decision Theory PDF

Author: Herman Chernoff

Publisher: Courier Corporation

Published: 1986-01-01

Total Pages: 386

ISBN-13: 9780486652184

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This well-respected introduction to statistics and statistical theory covers data processing, probability and random variables, utility and descriptive statistics, computation of Bayes strategies, models, testing hypotheses, and much more. 1959 edition.

Statistical Decision Theory and Bayesian Analysis

Statistical Decision Theory and Bayesian Analysis PDF

Author: James O. Berger

Publisher: Springer Science & Business Media

Published: 2013-03-14

Total Pages: 633

ISBN-13: 147574286X

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In this new edition the author has added substantial material on Bayesian analysis, including lengthy new sections on such important topics as empirical and hierarchical Bayes analysis, Bayesian calculation, Bayesian communication, and group decision making. With these changes, the book can be used as a self-contained introduction to Bayesian analysis. In addition, much of the decision-theoretic portion of the text was updated, including new sections covering such modern topics as minimax multivariate (Stein) estimation.

Decision Theory with a Human Face

Decision Theory with a Human Face PDF

Author: Richard Bradley

Publisher: Cambridge University Press

Published: 2017-10-26

Total Pages: 351

ISBN-13: 1107003210

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Explores how decision-makers can manage uncertainty that varies in both kind and severity by extending and supplementing Bayesian decision theory.

Decision Theory

Decision Theory PDF

Author: Giovanni Parmigiani

Publisher: John Wiley & Sons

Published: 2009-05-26

Total Pages: 416

ISBN-13:

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Decision theory provides a formal framework for making logical choices in the face of uncertainty. Given a set of alternatives, a set of consequences, and a correspondence between those sets, decision theory offers conceptually simple procedures for choice. This book presents an overview of the fundamental concepts and outcomes of rational decision making under uncertainty, highlighting the implications for statistical practice. The authors have developed a series of self contained chapters focusing on bridging the gaps between the different fields that have contributed to rational decision making and presenting ideas in a unified framework and notation while respecting and highlighting the different and sometimes conflicting perspectives. This book: * Provides a rich collection of techniques and procedures. * Discusses the foundational aspects and modern day practice. * Links foundations to practical applications in biostatistics, computer science, engineering and economics. * Presents different perspectives and controversies to encourage readers to form their own opinion of decision making and statistics. Decision Theory is fundamental to all scientific disciplines, including biostatistics, computer science, economics and engineering. Anyone interested in the whys and wherefores of statistical science will find much to enjoy in this book.

Theory of Decision Under Uncertainty

Theory of Decision Under Uncertainty PDF

Author: Itzhak Gilboa

Publisher: Cambridge University Press

Published: 2009-03-16

Total Pages: 216

ISBN-13: 052151732X

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This book describes the classical axiomatic theories of decision under uncertainty, as well as critiques thereof and alternative theories. It focuses on the meaning of probability, discussing some definitions and surveying their scope of applicability. The behavioral definition of subjective probability serves as a way to present the classical theories, culminating in Savage's theorem. The limitations of this result as a definition of probability lead to two directions - first, similar behavioral definitions of more general theories, such as non-additive probabilities and multiple priors, and second, cognitive derivations based on case-based techniques.

Introduction to Statistical Decision Theory

Introduction to Statistical Decision Theory PDF

Author: John Pratt

Publisher: MIT Press

Published: 2008-01-25

Total Pages: 0

ISBN-13: 026266206X

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The Bayesian revolution in statistics—where statistics is integrated with decision making in areas such as management, public policy, engineering, and clinical medicine—is here to stay. Introduction to Statistical Decision Theory states the case and in a self-contained, comprehensive way shows how the approach is operational and relevant for real-world decision making under uncertainty. Starting with an extensive account of the foundations of decision theory, the authors develop the intertwining concepts of subjective probability and utility. They then systematically and comprehensively examine the Bernoulli, Poisson, and Normal (univariate and multivariate) data generating processes. For each process they consider how prior judgments about the uncertain parameters of the process are modified given the results of statistical sampling, and they investigate typical decision problems in which the main sources of uncertainty are the population parameters. They also discuss the value of sampling information and optimal sample sizes given sampling costs and the economics of the terminal decision problems. Unlike most introductory texts in statistics, Introduction to Statistical Decision Theory integrates statistical inference with decision making and discusses real-world actions involving economic payoffs and risks. After developing the rationale and demonstrating the power and relevance of the subjective, decision approach, the text also examines and critiques the limitations of the objective, classical approach.

Decision Theory and Rationality

Decision Theory and Rationality PDF

Author: José Luis Bermúdez

Publisher: OUP Oxford

Published: 2009-02-19

Total Pages: 199

ISBN-13: 0191567728

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The concept of rationality is a common thread through the human and social sciences — from political science to philosophy, from economics to sociology, and from management science to decision analysis. But what counts as rational action and rational behavior? José Luis Bermúdez explores decision theory as a theory of rationality. Decision theory is the mathematical theory of choice and for many social scientists it makes the concept of rationality mathematically tractable and scientifically legitimate. Yet rationality is a concept with several dimensions and the theory of rationality has different roles to play. It plays an action-guiding role (prescribing what counts as a rational solution of a given decision problem). It plays a normative role (giving us the tools to pass judgment not just on how a decision problem was solved, but also on how it was set up in the first place). And it plays a predictive/explanatory role (telling us how rational agents will behave, or why they did what they did). This controversial but accessible book shows that decision theory cannot play all of these roles simultaneously. And yet, it argues, no theory of rationality can play one role without playing the other two. The conclusion is that there is no hope of taking decision theory as a theory of rationality.

Decision Theory as Philosophy

Decision Theory as Philosophy PDF

Author: Mark Kaplan

Publisher: Cambridge University Press

Published: 1996

Total Pages: 250

ISBN-13: 9780521624961

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Kaplan presents an accessible new variant on Bayesian decision theory.