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:
“Drug misuse is not a disease, it is a decision, like the decision to step out in front of a moving car. You would call that not a disease but an error of judgment.”
—Philip K. Dick (1928–1982)
“Those rules of old discovered, not devised,
Are Nature sill, but Nature methodized;
Nature, like liberty, is but restrained
By the same laws which first herself ordained.”
—Alexander Pope (1688–1744)