Concept information
Terme préférentiel
Bayesian approach to decision making
Définition
- Named after the 18th-century English cleric Thomas Bayes, the Bayesian approach refers to a distinctive framework for decision making. Accepting the dictum that “probability is the guide to life,” the Bayesian approach provides a model for rational choice in which the expected utility of an action is determined in relation to a person's notions of the probabilities and utilities associated with the potential outcomes of the action under consideration. [Source: Encyclopedia of Business Ethics and Society; Bayesian Approach]
Concept générique
Appartient au groupe
URI
http://data.loterre.fr/ark:/67375/N9J-DW2B98X4-F
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