Making Intelligent Choices

Volume: 39, Issue: 1, Pages: 19 - 34
Published: Mar 1, 1985
Abstract
Summary A critical outline, primarily for non-professionals, of some leading ideas and normative implications of “Bayesian Decision Theory”. Violations of the postulated transitivity of the chooser's preference relation are not necessarily symptoms of irrationality. Indeed, the overall normative constraint of “consistency” is too restrictive a guide for many real-life choices. Rational choice might perhaps be more usefully conceived as...
Paper Details
Title
Making Intelligent Choices
Published Date
Mar 1, 1985
Journal
Volume
39
Issue
1
Pages
19 - 34
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