Leonard Savage

Leonard J. Savage was an influential American statistician known for his work in decision theory and Bayesian statistics. He proposed that individuals make decisions based on subjective probabilities—meaning they assess the likelihood of outcomes based on personal judgment and experience rather than just objective data. Savage's ideas emphasized the importance of personal belief and how it influences choices, especially under uncertainty. His 1954 book, "The Foundations of Statistics," helped formalize Bayesian methods, allowing for a more nuanced approach to statistics and decision-making in various fields, including economics, science, and social sciences.