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Maximum Likelihood Decision Models

Maximum Likelihood Decision Models

Maximum Likelihood Decision approaches focus on the consensus view, the most likely outcome, ignoring information other information. 
 
 
Milo D. Adkison (2009) Drawbacks of complex models in frequentist and Bayesian approaches to natural-resource management. Ecological Applications: Vol. 19, No. 1, pp. 198-205. doi: 10.1890/07-1641.1.  This simulation study concludes that Decision-analytic approaches outperformed maximum-likelihood approaches in simulations, even when Bayesian priors were uninformative.
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