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 women of my mother’s generation had, in the main, only one decision to make about their lives: who they would marry. From that, so much else followed: where they would live, in what sort of conditions, whether they would be happy or sad or, so often, a bit of both. There were roles and there were rules.”
—Anna Quindlen (20th century)
“Carnal lust rules where there is no love of God.”
—St. Augustine (354–430)