Economists often estimate a subset of their model parameters outside the model and let the decision-makers inside the … misspecification of the decision problem, and leads to post-decision disappointment. We develop a framework to explore, evaluate, and … optimize decision rules that explicitly account for the uncertainty in the first step estimation using statistical decision …

the model’s implications for optimal decision-making. This practice ignores model ambiguity, exposes the decision problem … to misspecification, and ultimately leads to post-decision disappointment. Using statistical decision theory, we develop … a framework to explore, evaluate, and optimize robust decision rules that explicitly account for estimation uncertainty …

implementation for parametric discrete Markov decision models in which the probability distribution is defined as a fixed point. We … iteration. We then extend the NPL estimators to develop one-step NPL bootstrap procedures for discrete Markov decision models …

planning or decision making, then the preferences, opportunities and constraints of the decision maker will all enter into the … of early work in the area of forecasting and decision theory, this chapter formally examines the manner in which the … features of an agent's decision problem combine to generate an appropriate decision-based loss function for that agent's use in …

We investigate various statistical methods for forecasting risky choices and identify important decision predictors …

Discrete Markov Processes and Numerical Algorithms for Markov Chains -- Markov Decision Processes and Stochastic … decision problems and determining Nash equilibria for related stochastic games with average and total expected discounted …

In this paper we prove a deterministic approximation theorem for a sequence of Markov decision processeswith finitely … result can be found in large deviation theory, and some simple economic problems. -- Markov decision processes ; optimal …

We study Markov decision problems where the agent does not know the transition probability function mapping current …

In an experts-assisted decision making paradigm, the information collection design becomes a strategic variable under a … weak assumption that the final decision is dependent on the design used to collect information as well. As a result, the … same information of the experts and the decision maker about the problem can potentially produce different final decisions …