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2018 | OriginalPaper | Buchkapitel

2. Decision Theories and Methodologies

verfasst von : Victor Tang, Kevin Otto, Warren Seering

Erschienen in: Executive Decision Synthesis

Verlag: Springer International Publishing

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Abstract

This chapter introduces the extant decision theories. Whereas the literature segments the field into the Normative, Descriptive, and Prescriptive theories, we identify a fourth. That is the Declarative strand of decision-making. We discuss all four strands of research and praxis. We locate our prescriptive paradigm in the Prescriptive segment. We discuss the question of what is a good decision and a good process. We will close this question in Chap. 10 after we have had the opportunity to illustrate the use of the machinery of our prescriptive paradigm in the main body of the book.

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Fußnoten
1
Edwards and von Winterfeldt (1986) write that “articles related to judgment and decision-making appeared in more than 500 different journals.” Under “decision theory,” Google scholar shows 1,870,000 citations, and Amazon.Books show 1744 titles. Downloaded January 15, 2017.
 
2
This description is adopted from Doherty (2003).
 
3
Selten won the 1994 Nobel prize in economics with Harsanyi and Nash.
 
4
Aumann won the 2005 Nobel in Economics for work on the axioms of normative decision theory. The quote appears in Wolpin’s book (2013) “the Limits of Inference without Theory”.
 
5
Keeney and Raiffa (1999, pp 10–11).
 
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Metadaten
Titel
Decision Theories and Methodologies
verfasst von
Victor Tang
Kevin Otto
Warren Seering
Copyright-Jahr
2018
DOI
https://doi.org/10.1007/978-3-319-63026-7_2

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