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Concept information

Preferred term

optimal decision making  

Definition

  • A decision maker is said to behave optimally with respect to a given set of preferences or objectives whenever he or she chooses an alternative that is weakly preferred to (i.e., at least as good as) the other alternatives on the menu of available options. When the relevant objective is easily understood from context—as in the case of a manufacturer who wishes to minimize production costs—the decision maker is often said simply to behave optimally. [Source: Encyclopedia of Governance; Optimal Decision Making]

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URI

http://data.loterre.fr/ark:/67375/N9J-PV8B5TMJ-3

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