Thou shall not sin With statisticians nor commit A social science.
A great deal of study has been directed to denning 'best decisions,' particularly since the pioneering work of mathematical statisticians (such as Wald), of mathematicians (such as von Neumann), of economists (such as Arrow )... The main effect of this development on the practice of OR has been the growing realization that there are decision objectives other than maximizing expected return and minimizing maximum loss. That is, in many practical situations there are criteria of optimality that are more appropriate than these two mentioned.
Create and save customized word lists. Sign up today and start improving your vocabulary!