Economics is about the allocation of scarce resources, and making good decisions. Economists call this optimal decision making. It is said that economists think ...

An optimal decision is a decision that leads to at least as good a known or expected outcome as all other available decision options.

Decision-making is a critical process of selecting the optimal decision among a set of alternatives based on the decision-maker's experience and preferences.

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Опубликовано: 19 февр. 2019 г.

Optimal decision: An optimal decision is anticipated results are at least as good as all other decision-making alternatives. In decision theory, it is a ...

Many economic decisions involve trying to decide what is the “best” decision to make. These problems involving trying to optimize some objective, such as ...

Making optimal decisions is a process whose aim is to select the best solution from the perspective of efficiency, economy and rationality. This process ...

24 июл. 2017 г. · Economic models view individuals as optimal decision makers who maximize their overall reward income. Psychologists and ecologists have ... Abstract · Results · Discussion and Conclusions · Methods

This paper considers optimal decision-making in an environment with changing parameters. The decision maker's beliefs regarding these unknown, time-varying ...

Marginal analysis is a framework for optimal decision that weighs the costs and benefits of engaging in an activity to determine the optimal level of that ...