“Decision theory, as it has grown up in recent years, is a formalization of the problems involved in making optimal choices. In a certain sense — a very abstract sense, to be sure — it incorporates among others operations research, theoretical economics, and wide areas of statistics, among others.”

Source: 1970s-1980s, The Economics of Information (1984), p. 55

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Kenneth Arrow 37
American economist 1921–2017

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Original in French:
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