Decision Theory Concepts
Here is a list of concepts and techniques that you should know in Decision
Theory:
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Decision types:
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Decison making under Certainity
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Decison making under Uncertainity (DMUU)
Decison criteria: Laplace, minmax (maxmin), maxmax, minmax regret
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Decison making under Risk (DMUR)
Decison criteria: Expected monetary value (EMV)
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Expected value of perfect information (EVPI)
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Incorporting additional (sample) information
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Imperfect information
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Prior, reliability, joint, marginal and posterior probabilities (Bayes
formula)
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Sequential decisons and decision trees
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construction of the trees
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solving (folding back procedure)
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Expected value of sample information (EVSI)