decision (redirected from Decision theory)

decision

a choice between a number of possible answers to a question.

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decision analysis

a systematic approach to decision making under conditions of imperfect knowledge; a practical application of probability theory. Used to calculate the optimal strategy from among a series of alternative strategies. May be expressed graphically in the form of a decision tree (below).

decision making

making a decision can be done in three principal ways and many variations and mixtures of the methods: (1) rote, the decision is made on the basis of a set of rules and no selectivity is required; (2) intuitive, decisions are made on the basis of cerebrally stored information and reasoning systems which permit a fast response. The increasing complexity of veterinary clinical questions increases the probability of error; (3) decision analysis, a means of solving complicated problems by including all of the factors that could possibly affect the outcome of the analysis in a series of sequential questions. This gives each of the factors an opportunity of affecting the outcome. The chance of error by omission can be eliminated but the process is prolonged.

decision theory

the theoretical basis for decision analysis.

decision tree

a diagrammatic representation of the possible outcomes and events used in decision analysis. The questions to be asked in an analysis of a question are arranged as a series of nodes each with a yes and no branch, creating an arborization effect. The sequential steps proceed with each step depending on the decision made in the preceding step.