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 issue is privacy. Why is the decision by a woman to sleep with a man she has just met in a bar a private one, and the decision to sleep with the same man for $100 subject to criminal penalties?”
—Anna Quindlen (b. 1952)
“It was one of the rules which above all others made Doctr. Franklin the most amiable man in society, “never to contradict any body.””
—Thomas Jefferson (1743–1826)