Reducibility of Experiments in Multistep Decision Problems

V. I. Ivanenko ()
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V. I. Ivanenko: Kyviv Polytechnic Institute

Chapter Chapter 8 in Decision Systems and Nonstochastic Randomness, 2010, pp 193-203 from Springer

Abstract: Abstract The notion of informativity of experiment (Chapters 6, 7) is useful for the extension of some stochastic decision problems to random-in-a-broad-sense decision problems. One such extension that concerns a multistep decision problem is considered here. A multistep decision problem arises when the decision-maker has to make sequential decisions in the same situation [14]. If an experiment is included in this system, then sequential accumulation of information—decrease of uncertainty—becomes feasible [18]. Indeed, let n be the number of stages in the multistep problem. Let the decision-maker before making the (k + 1)th decision, k = 0, 1, …, n, perform an experiment (observation).

Date: 2010
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DOI: 10.1007/978-1-4419-5548-7_8

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