Physical Sciences and Mathematics Commons^™

Decision Making Under Uncertainty With Applications To Geosciences And Finance, Laxman Bokati

Open Access Theses & Dissertations

In many practical situations, we need to make a decision. In engineering, we need to decide on the best design of a system, and, for existing systems â?? on the best control strategy. In financial applications, we need to decide what is the best way to invest money. In geosciences, we need to decide whether we should explore a possible mineral deposit â?? or whether we should perform more experiments and measurements (and what exactly). In some cases, we can compute the exact consequences of each decision - e.g., if we are controlling a satellite. However, in many other cases, …