The Sure-Thing Principle
DSA ADS Course - 2021
The Sure-Thing Principle, Causal Reasoning, Data-Driven Decision-Making, Algorithm Decision Making, Applied Probability
Discuss applied probability, causal reasoning and types of decision making processes. Apply to both traditional algorithms and machine learning algorithms in decision making processes.
See also: The Sure Thing
The Sure-Thing Principle - 2016
In 1954, Jim Savage introduced the Sure Thing Principle to demonstrate that preferences among actions could constitute an axiomatic basis for a Bayesian foundation of statistical inference. Here, we trace the history of the principle, discuss some of its nuances, and evaluate its significance in the light of modern understanding of causal reasoning.