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:
“You can hesitate before deciding, but not once the decision is made.”
—José Bergamín (1895–1983)
“Life is a game in which the rules are constantly changing; nothing spoils a game more than those who take it seriously. Adultery? Phooey! You should never subjugate yourself to another nor seek the subjugation of someone else to yourself. If you follow that Crispian principle you will be able to say “Phooey,” too, instead of reaching for your gun when you fancy yourself betrayed.”
—Quentin Crisp (b. 1908)