In statistical decision theory, an admissible decision rule is a rule for making a decision such that there isn't any other rule that is always "better" than it.
Generally speaking, in most decision problems the set of admissible rules is large, even infinite, so this is not a sufficient criterion to pin down a single rule, but as will be seen there are some good reasons to favor admissible rules; compare Pareto efficiency.
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Famous quotes containing the words admissible, decision and/or rule:
“... if we believe that murder is wrong and not admissible in our society, then it has to be wrong for everyone, not just individuals but governments as well.”
—Helen Prejean (b. 1940)
“You can hesitate before deciding, but not once the decision is made.”
—José Bergamín (1895–1983)
“A right rule for a club would be, Admit no man whose presence excludes any one topic. It requires people who are not surprised and shocked, who do and let do, and let be, who sink trifles, and know solid values, and who take a great deal for granted.”
—Ralph Waldo Emerson (1803–1882)