Applied Statistical Decision Theory.
@article{Minton1962AppliedSD,
title={Applied Statistical Decision Theory.},
author={P. Minton and H. Raiffa and R. Schlaifer},
journal={American Mathematical Monthly},
year={1962},
volume={69},
pages={72}
}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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