Human judgment
From a cited source
Deciding what each possible outcome is worth to us, and so which one to choose.
Origin. Agrawal, Gans and Goldfarb: judgment is "the process of determining the payoffs associated with possible outcomes", separate from prediction, which estimates what is likely to happen. (Ajay Agrawal, Joshua Gans, Avi Goldfarb (2019))
How I use it. Their model does not say judgment must stay human. In my company it does, for now, wherever money leaves or a person is addressed.
Not to be confused with
- Prediction: estimating what will happen; agents are good at it.
Example. The finance agent can project cash under several scenarios. Which payments to make is the judgment I keep.