Optimal decision making under uncertainty
โ Scribed by Ronald Hochreiter; Daniel Kuhn
- Publisher
- Springer-Verlag
- Year
- 2011
- Tongue
- English
- Weight
- 74 KB
- Volume
- 9
- Category
- Article
- ISSN
- 1619-697X
No coin nor oath required. For personal study only.
๐ SIMILAR VOLUMES
ommodity trading decisions, like all decisions, must be made under one of C three broad conditions: certainty, risk, or uncertainty. When a decision is made under certainty, the results of all possible actions are known in advance. When a decision is made under risk, the results are not known in adv
This paper examines a decision making under uncertainty criterion first introduced by Starr, which differs from the classical criteria. The rationale and properties of this criterion, called the Domain criterion, are discussed and compared with the traditional approaches of Wald, Hurwicz, Savage and