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)
“Moral choices do not depend on personal preference and private decision but on right reason and, I would add, divine order.”
—Basil Hume (b. 1923)
“And they that rule in England
In stately conclave met,
Alas, alas, for England
They have no graves as yet.”
—Gilbert Keith Chesterton (1874–1936)