Definition: Bayesian Theory is a theory which is used by scientists to explain and predict decision-making. |
More on individual decision making: Anchoring Bias, Black Swan Theory, Bounded Rationality, Cognitive Bias, Cognitive Dissonance, more on individual decision making... MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration. We like to keep things short, and provide links to learn more about your subject. |
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