Summary
This paper deals first with the relationship between the theory of probability and the theory of rational behaviour. A method is then suggested for encouraging people to make accurate probability estimates, a connection with the theory of information being mentioned. Finally Wald’s theory of statistical decision functions is summarised and generalised and its relation to the theory of rational behaviour is discussed.
This paper is based on a lecture delivered to the Royal Statistical Society on September 22nd, 1951, as a contribution to the week-end conference at Cambridge.
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© 1992 Springer Science+Business Media New York
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Good, I.J. (1992). Rational Decisions. In: Kotz, S., Johnson, N.L. (eds) Breakthroughs in Statistics. Springer Series in Statistics. Springer, New York, NY. https://doi.org/10.1007/978-1-4612-0919-5_24
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DOI: https://doi.org/10.1007/978-1-4612-0919-5_24
Publisher Name: Springer, New York, NY
Print ISBN: 978-0-387-94037-3
Online ISBN: 978-1-4612-0919-5
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