Decision Rules
A decision rule makes a choice using an optimality criterion. Some commonly used criteria are:
- Minimax: Choose the decision rule with the lowest worst loss — that is, minimize the worst-case (maximum possible) loss:
- Invariance: Choose the optimal decision rule which satisfies an invariance requirement.
- Choose the decision rule with the lowest average loss (i.e. minimize the expected value of the loss function):
Read more about this topic: Loss Function
Famous quotes containing the words decision and/or rules:
“The decision to have a child is both a private and a public decision, for children are our collective future.”
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“Learn hence for ancient rules a just esteem;
To copy Nature is to copy them.”
—Alexander Pope (1688–1744)