DECISION PROCEDURES FOR FINITE DECISION PROBLEMS UNDER COMPLETE IGNORANCE,
Abstract
A set of desirable properties is developed for deision procedures for use in a decision problem under the hypothesis of complete ignorance. It is shown that there exists a family of decision procedures, each of which satisfies all required properties. An algorithm for determining optimal strategies is given. It is established that two very general classes of decision procedures fail to satisfy at least one of the required properties. These classes contain the minimax and minimax regret criteria, and Laplace's criterion as special cases. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 01, 1964
- Accession Number
- AD0433878
Entities
People
- B. Harris
- F. V. Atkinson
- J. D. Church
Organizations
- University of Wisconsin–Madison