Visual Studio .NET. Definition - What does Visual Studio .NET mean? Visual Studio .NET is a Microsoft-integrated development environment (IDE) that can be used for developing consoles, graphical user interfaces (GUIs), Windows Forms, Web services and Web applications.
Decision theory can be broken into two branches: normative decision theory, which gives advice on how to make the best decisions, given a set of uncertain beliefs and a set of values; and descriptive decision theory, which analyzes how existing, possibly irrational agents actually make decisions.
The elements of decision analysis problems are as follow: A sole individual is designated as the decision-maker. For example, the CEO of a company, who is accountable to the shareholders. A finite number of possible (future) events called the 'States of Nature' (a set of possible scenarios).