Utility-Based Learning from Data

Utility-Based Learning from Data

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English | 2010 | ISBN: 1584886226 | 412 pages | PDF | 3 MB

Utility-Based Learning from Data provides a pedagogical, self-contained discussion of probability estimation methods via a coherent approach from the viewpoint of a decision maker who acts in an uncertain environment. This approach is motivated by the idea that probabilistic models are usually not learned for their own sake; rather, they are used to make decisions. Specifically, the authors adopt the point of view of a decision maker who

(i) operates in an uncertain environment where the consequences of possible outcomes are explicitly monetized,
(ii) bases his decisions on a probabilistic model, and
(iii) builds and assesses his models accordingly.