Applied Statistical Decision Theory.

  title={Applied Statistical Decision Theory.},
  author={P. Minton and H. Raiffa and R. Schlaifer},
  journal={American Mathematical Monthly},
  • P. Minton, H. Raiffa, R. Schlaifer
  • Published 1962
  • Computer Science, Mathematics
  • American Mathematical Monthly
  • In general, this book is concerned with capital budgeting and decision theory. Specifically, it centers around a singular uncertainty decision the decision by oil and gas operators to drill, or not to drill, a well. Actually, a sequence of decisions must precede this final action, but each one of these preliminary decisions is principally directed toward the final payoff question: Should we invest money in this well? If so, how much should we risk, and how much of the risk should we share with… CONTINUE READING
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