What is Decision Theory

Decision Theory:

Decision-theory is a different approach to dealing with visibility in decisions that are more in line with the questionable climate. Decision Theory includes psychology, comprehension, consultation, and mathematics to explore dynamic connections. Decision Making is the investigation of an individual or specialists’ decisions. The hypothesis assists us with understanding the rationale behind the decisions experts, buyers, or even citizens make.

Decision Theory has  two parts :

Normative Decision Theory and Optimal Decision Theory. There are three distinct kinds of vulnerability that can be found in the dynamic hypothesis. These are States, Consequences, and Actions. They see how choice hypothesis functions and its suggestions for buyer conduct are a superb instrument for advertisers to use.