Decision Theory 101: Because Who Doesn't Love a Good Coin Toss?

Decision theory: the art of choosing between options, often with the help of probability and a coin.

Imagine you're at a casino, surrounded by blinking lights and the distant hum of the slot machines. You're faced with a decision:

1. Do you bet on red or black?
2. Do you take a chance on the wheel of fortune?
3. Or, do you just stick with what you know and play it safe?

These are the kinds of tough choices that decision theory helps us navigate.

Or, if you're feeling lucky, head on over to our Luck of the Coin page.