Rational Decisions
- 1 January 1952
- journal article
- research article
- Published by Oxford University Press (OUP) in Journal of the Royal Statistical Society Series B: Statistical Methodology
- Vol. 14 (1) , 107-114
- https://doi.org/10.1111/j.2517-6161.1952.tb00104.x
Abstract
Summary: This paper deals first with the relationship between the theory of probability and the theory of rational behaviour. A method is then suggested for encouraging people to make accurate probability estimates, a connection with the theory of imformation being mentioned. Finally Wald’s theory of statistical decision functions is summarised and generalised and its relation to the theory of rational behaviour is discussed.Keywords
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