- Title Pages
- Contributors to Papers Written for this Volume
- Introduction by the Editors
- Introduction to the List of Ward Edwards’s Publications
- Chronological List of Publications Written or Co-Authored by Ward Edwards
- 1 The Theory of Decision Making
- 2 Behavioral Decision Theory
- 3 Probability Learning in 1000 Trials
- 4 Dynamic Decision Theory and Probabilistic Information Processing
- 5 Subjective Probabilities Inferred from Decisions
- 6 Conservatism in a Simple Probability Inference Task
- 7 JUDGE: A Laboratory Evaluation
- 8 Bayesian and Regression Models of Human Information Processing: A Myopic Perspective
- 9 Choices Among Bets by Las Vegas Gamblers: Absolute and Contextual Effects
- 10 Hailfinder: Tools for and Experiences with Bayesian Normative Modeling
- 11 Costs and Payoffs Are Instructions
- 12 Bayesian Statistical Inference for Psychological Research
- 13 Tactical Note on the Relation Between Scientific and Statistical Hypotheses
- 14 Boredom-Induced Changes in Preferences Among Bets
- 15 Human Cognitive Capabilities, Representativeness, and Ground Rules for Research
- 16 Costs and Payoffs in Perceptual Research
- 17 Murder and (of?) the Likelihood Principle: A Trialogue
- 18 A Mean for All Seasons
- 19 The Clinical Significance Decision
- 20 The Measurement of Behavior: Indices and Standards
- 21 Subjective Probabilities in Medical Diagnosis
- 22 N = 1: Diagnosis in Unique Cases
- 23 Divide and Conquer: How to Use Likelihood and Value Judgments in Decision Making
- 24 Likelihood Ratios as a Measure of the Diagnostic Usefulness of Excretory Urogram Information
- 25 Diagnosis and Treatment
- 26 Public Values: Multiattribute-Utility Measurement for Social Decision Making
- 27 How to Use Multiattribute Utility Measurement for Social Decisionmaking
- 28-A Multiattribute Utility Measurement: Evaluating Desegregation Plans in a Highly Political Context
- 28-B Reflections on and Criticisms of a Highly Political Multiattribute Utility Analysis
- 29 Evaluating Credit Applications: A Validation of Multiattribute Utility Weight Elicitation Techniques
- 30 SMARTS and SMARTER: Improved Simple Methods for Multiattribute Utility Measurement
- 31 Decision Technology
- 32 The Puzzle of Adolescent Substance Initiation
- 33 Big Decisions, Little Decisions: The Hierarchy of Everyday Life
- 34 The Clinical Decision Tree of Oral Health in Geriatrics
- 35 Why Is a Bird in the Hand Worth Two in the Bush?
- 36 Obituary
- 37 Obituary
- 38 Obituary
- INDEX

# 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

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

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .

- Title Pages
- Contributors to Papers Written for this Volume
- Introduction by the Editors
- Introduction to the List of Ward Edwards’s Publications
- Chronological List of Publications Written or Co-Authored by Ward Edwards
- 1 The Theory of Decision Making
- 2 Behavioral Decision Theory
- 3 Probability Learning in 1000 Trials
- 4 Dynamic Decision Theory and Probabilistic Information Processing
- 5 Subjective Probabilities Inferred from Decisions
- 6 Conservatism in a Simple Probability Inference Task
- 7 JUDGE: A Laboratory Evaluation
- 8 Bayesian and Regression Models of Human Information Processing: A Myopic Perspective
- 9 Choices Among Bets by Las Vegas Gamblers: Absolute and Contextual Effects
- 10 Hailfinder: Tools for and Experiences with Bayesian Normative Modeling
- 11 Costs and Payoffs Are Instructions
- 12 Bayesian Statistical Inference for Psychological Research
- 13 Tactical Note on the Relation Between Scientific and Statistical Hypotheses
- 14 Boredom-Induced Changes in Preferences Among Bets
- 15 Human Cognitive Capabilities, Representativeness, and Ground Rules for Research
- 16 Costs and Payoffs in Perceptual Research
- 17 Murder and (of?) the Likelihood Principle: A Trialogue
- 18 A Mean for All Seasons
- 19 The Clinical Significance Decision
- 20 The Measurement of Behavior: Indices and Standards
- 21 Subjective Probabilities in Medical Diagnosis
- 22 N = 1: Diagnosis in Unique Cases
- 23 Divide and Conquer: How to Use Likelihood and Value Judgments in Decision Making
- 24 Likelihood Ratios as a Measure of the Diagnostic Usefulness of Excretory Urogram Information
- 25 Diagnosis and Treatment
- 26 Public Values: Multiattribute-Utility Measurement for Social Decision Making
- 27 How to Use Multiattribute Utility Measurement for Social Decisionmaking
- 28-A Multiattribute Utility Measurement: Evaluating Desegregation Plans in a Highly Political Context
- 28-B Reflections on and Criticisms of a Highly Political Multiattribute Utility Analysis
- 29 Evaluating Credit Applications: A Validation of Multiattribute Utility Weight Elicitation Techniques
- 30 SMARTS and SMARTER: Improved Simple Methods for Multiattribute Utility Measurement
- 31 Decision Technology
- 32 The Puzzle of Adolescent Substance Initiation
- 33 Big Decisions, Little Decisions: The Hierarchy of Everyday Life
- 34 The Clinical Decision Tree of Oral Health in Geriatrics
- 35 Why Is a Bird in the Hand Worth Two in the Bush?
- 36 Obituary
- 37 Obituary
- 38 Obituary
- INDEX