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:
“Moral choices do not depend on personal preference and private decision but on right reason and, I would add, divine order.”
—Basil Hume (b. 1923)
“... cooking is just like religion. Rules don’t no more make a cook than sermons make a saint.”
—Anonymous, U.S. cook. As quoted in I Dream a World, by Leah Chase, who was quoted in turn by Brian Lanker (1989)