Decision theory in economics, psychology, philosophy, mathematics, and statistics is concerned with identifying the values, uncertainties and other issues relevant in a given decision, its rationality, and the resulting optimal decision. It is closely related to the field of game theory as to interactions of agents with at least partially conflict...
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http://en.wikipedia.org/wiki/Decision_theory
in statistics, a set of quantitative methods for reaching optimal decisions. A solvable decision problem must be capable of being tightly formulated ... [5 related articles]
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http://www.britannica.com/eb/a-z/d/22
Theory that decisions can best be made by eliminating intuition and subjective criteria and employing a system of mathematical techniques for analysing decision-making problems. The system aims to...
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http://www.encyclo.co.uk/local/20688
A theoretical technique utilizing a group of related constructs to describe or prescribe how individuals or groups of people choose a course of action when faced with several alternatives and a variable amount of knowledge about the determinants of the outcomes of those alternatives. ... (12 Dec 1998) ...
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http://www.encyclo.co.uk/local/20973
Theory that decisions can best be made by eliminating intuition and subjective criteria and employing a system of mathematical techniques for analysing decision-making problems. The system aims to minimize error, and includes techniques such as game theory, risk analysis, and utility theory
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https://www.encyclo.co.uk/local/21221
the theory of making decisions based on assigning probabilities to various factors and assigning numerical consequences to the outcome.
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https://www.infoplease.com/dictionary/decision-theory
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