decision theory

noun

Definition of decision theory

: a branch of statistical theory concerned with quantifying the process of making choices between alternatives

First Known Use of decision theory

1939, in the meaning defined above

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The first known use of decision theory was in 1939

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Cite this Entry

“Decision theory.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/decision%20theory. Accessed 20 Jan. 2021.

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