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:
“I know my fate. One day my name will be tied to the memory of something monstrous—a crisis without equal on earth, the most profound collision of conscience, a decision invoked against everything that had previously been believed, demanded, sanctified. I am no man, I am dynamite!”
—Friedrich Nietzsche (1844–1900)
“You’d leave your own mother here, if the rules called for it.”
—Michael Wilson (1914–1978)