Expected utility hypothesisThe expected utility hypothesis is a popular concept in economics that serves as a reference guide for decision making when the payoff is uncertain. The theory describes which options rational individuals should choose in a situation with uncertainty, based on their risk aversion. The expected utility hypothesis states an agent chooses between risky prospects by comparing expected utility values (i.e. the weighted sum of adding the respective utility values of payoffs multiplied by their probabilities).
PreferenceIn psychology, economics and philosophy, preference is a technical term usually used in relation to choosing between alternatives. For example, someone prefers A over B if they would rather choose A than B. Preferences are central to decision theory because of this relation to behavior. Some methods such as Ordinal Priority Approach use preference relation for decision-making. As connative states, they are closely related to desires.
InformationInformation is an abstract concept that refers to that which has the power to inform. At the most fundamental level, information pertains to the interpretation (perhaps formally) of that which may be sensed, or their abstractions. Any natural process that is not completely random and any observable pattern in any medium can be said to convey some amount of information. Whereas digital signals and other data use discrete signs to convey information, other phenomena and artefacts such as analogue signals, poems, pictures, music or other sounds, and currents convey information in a more continuous form.
Computer networkA computer network is a set of computers sharing resources located on or provided by network nodes. Computers use common communication protocols over digital interconnections to communicate with each other. These interconnections are made up of telecommunication network technologies based on physically wired, optical, and wireless radio-frequency methods that may be arranged in a variety of network topologies. The nodes of a computer network can include personal computers, servers, networking hardware, or other specialized or general-purpose hosts.
Generation lossGeneration loss is the loss of quality between subsequent copies or transcodes of data. Anything that reduces the quality of the representation when copying, and would cause further reduction in quality on making a copy of the copy, can be considered a form of generation loss. File size increases are a common result of generation loss, as the introduction of artifacts may actually increase the entropy of the data through each generation.
Content delivery networkA content delivery network, or content distribution network (CDN), is a geographically distributed network of proxy servers and their data centers. The goal is to provide high availability and performance by distributing the service spatially relative to end users. CDNs came into existence in the late 1990s as a means for alleviating the performance bottlenecks of the Internet as the Internet was starting to become a mission-critical medium for people and enterprises.
CodecA codec is a device or computer program that encodes or decodes a data stream or signal. Codec is a portmanteau of coder/decoder. In electronic communications, an endec is a device that acts as both an encoder and a decoder on a signal or data stream, and hence is a type of codec. Endec is a portmanteau of encoder/decoder. A coder or encoder encodes a data stream or a signal for transmission or storage, possibly in encrypted form, and the decoder function reverses the encoding for playback or editing.
Network planning and designNetwork planning and design is an iterative process, encompassing topological design, network-synthesis, and network-realization, and is aimed at ensuring that a new telecommunications network or service meets the needs of the subscriber and operator. The process can be tailored according to each new network or service. A traditional network planning methodology in the context of business decisions involves five layers of planning, namely: need assessment and resource assessment short-term network planning IT resource long-term and medium-term network planning operations and maintenance.
Stochastic dominanceStochastic dominance is a partial order between random variables. It is a form of stochastic ordering. The concept arises in decision theory and decision analysis in situations where one gamble (a probability distribution over possible outcomes, also known as prospects) can be ranked as superior to another gamble for a broad class of decision-makers. It is based on shared preferences regarding sets of possible outcomes and their associated probabilities. Only limited knowledge of preferences is required for determining dominance.
Monty Hall problemThe Monty Hall problem is a brain teaser, in the form of a probability puzzle, loosely based on the American television game show Let's Make a Deal and named after its original host, Monty Hall. The problem was originally posed (and solved) in a letter by Steve Selvin to the American Statistician in 1975. It became famous as a question from reader Craig F. Whitaker's letter quoted in Marilyn vos Savant's "Ask Marilyn" column in Parade magazine in 1990: Suppose you're on a game show, and you're given the choice of three doors: Behind one door is a car; behind the others, goats.
