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A Science of Decision MakingThe Legacy of Ward Edwards$
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Jie W. Weiss and David J. Weiss

Print publication date: 2008

Print ISBN-13: 9780195322989

Published to Oxford Scholarship Online: January 2009

DOI: 10.1093/acprof:oso/9780195322989.001.0001

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The Theory of Decision Making

The Theory of Decision Making

Chapter:
(p.2) (p.3) 1 The Theory of Decision Making
Source:
A Science of Decision Making
Author(s):

Jie W Weiss

David J Weiss

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195322989.003.0001

This chapter reviews theoretical literature on the economic theory of decision making and the rapidly increasing number of psychological experiments (performed by both psychologists and economists) that are relevant to it. The review is divided into five sections: the theory of riskless choices, the application of the theory of riskless choices to welfare economics, the theory of risky choices, transitivity in decision making, and the theory of games and of statistical decision functions.

Keywords:   economic theory, decision making, riskless choices, welfare economics, risky choices, theory of games, statistical decision functions

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