theory of decision under uncertainty
ainty Assumes rationality and consistent preferences Mathematically, for an action \(a\), the expected utility is: \[ EU(a) = \sum_{s} P(s) \times U(O(a,s)) \] where \(P(s)\) is the probability of state \(s\), and \(U(O(a,s))\) is the utility of the outcome. Minimax Regret Criterion