Framing the right problem—illustrated through the Fish and Wildlife Service’s eagle-permitting processes—is the crucial first step of the decision-making process and a skill statisticians should apply in any collaboration.
Deciding Factors
‘Wanna Bet?’ Making Decisions Under Uncertainty
Mark Otto and MinJae Lee discuss a principle proposed by poker pro and cognitive psychologist Annie Duke: Treat decisions as bets.
Winning Isn’t the Only Thing: Why Statisticians Must Separate Process from Outcome
In this month’s Deciding Factors column, MinJae Lee and Mark C. Otto make the case for separating process from outcome—in poker, in clinical trials, in wildlife management, and in everyday decisions.
Decision-Making for Statisticians
Mark Otto explores how statisticians and data scientists can apply decision analysis to everyday choices—big or small.