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Concept
Decision Theory
Decision theory
is a framework for making
logical choices
in the face of uncertainty, integrating
principles from statistics
, economics, and psychology to evaluate and
optimize decisions
. It encompasses both
normative theories
, which prescribe
how decisions should be made
, and
descriptive theories
, which describe
how decisions are actually made
by
individuals and organizations
.
Relevant Degrees
Operational Research 78%
Economic Theory and Concepts 22%
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