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The minimax regret approach is to minimize the worst-case regret, originally presented by Leonard Savage in 1951. [16] The aim of this is to perform as closely as possible to the optimal course. Since the minimax criterion applied here is to the regret (difference or ratio of the payoffs) rather than to the payoff itself, it is not as ...
Leonard Jimmie Savage (born Leonard Ogashevitz; 1917 – 1971) was an American mathematician and statistician. Economist Milton Friedman said Savage was "one of the few people I have met whom I would unhesitatingly call a genius."
Leonard Norman Cohen CC GOQ (September 21, 1934 – November 7, 2016) was a Canadian songwriter, singer, poet, and novelist. Themes commonly explored throughout his work include faith and mortality, isolation and depression, betrayal and redemption, social and political conflict, and sexual and romantic love, desire, regret, and loss. [1]
Created Date: 8/30/2012 4:52:52 PM
Adam Nimoy, the son of the late Star Trek icon Leonard Nimoy, knows the real reason behind his father and costar William Shatner’s storied feud — but he isn’t giving any secrets away.
In decision theory, subjective expected utility is the attractiveness of an economic opportunity as perceived by a decision-maker in the presence of risk.Characterizing the behavior of decision-makers as using subjective expected utility was promoted and axiomatized by L. J. Savage in 1954 [1] [2] following previous work by Ramsey and von Neumann. [3]
“’I sacrificed my love on the altars of fame,’ Leonard Cohen said in the ‘70s,” “So Long, Marianne” showrunner Øystein Karlsen notes. Cohen was referring of course to his ‘60s ...
Savage formulated the principle as a dominance principle, but it can also be framed probabilistically. [2] Richard Jeffrey [2] and later Judea Pearl [3] showed that Savage's principle is only valid when the probability of the event considered (e.g., the winner of the election) is unaffected by the action (buying the property).