SIPTA School 2024: Decisions by Matthias C.M. Troffaes

Lecture by Matthias C.M. Troffaes on Decisions at the SIPTA School 2024, which took place from 12 to 16 August 2024 at Ghent University, Belgium.

The lecture material is available at https://school24.sipta.org/programme/....
More information about the school can be found on the school's website: https://school24.sipta.org.

Abstract
=======
Since Abraham Wald’s seminal work, decisions have been at the center of statistical inference. They also play a central role in the betting interpretation of lower previsions. We will investigate the decision theoretic foundations to bounded probability and its link to standard Bayesian decision theory, critically reviewing some fundamental problems encountered. We introduce a few of the most popular decision criteria, and explain why you might use them or not. Finally, we will demonstrate the theory on some simple but practical machine learning problems, and show how they benefit from the robustness against severe uncertainty featured by these decision criteria.