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Theory and Decision

An International Journal for Multidisciplinary Advances in Decision Science

Theory and Decision OnlineFirst articles


Effect of reduced opportunities on bargaining outcomes: an experiment with status asymmetries

Several allocation rules (such as the Kalai–Smorodinsky solution) allow for possible violations of the ‘independence of irrelevant alternatives’ (IIA) axiom in cooperative bargaining game theory. Nonetheless, there is no conclusive evidence on how …


Equilibrium as compatibility of plans

This paper uses a game-theoretic framework to formalize the Hayekian notion of equilibrium as the compatibility of plans. To do so, it imposes more structure on the conventional model of strategic games. For each player, it introduces goals …


Always doing your best? Effort and performance in dynamic settings

Achieving an ambitious goal frequently requires succeeding in a sequence of intermediate tasks, some being critical for the final outcome, and others not. However, individuals are not always able to provide a level of effort sufficient to …

16.03.2020 Open Access

Additive multi-effort contests

This article analyzes rent seeking with multiple additive efforts for each of two players. Impact on rent seeking occurs even when a player exerts only one effort. This contrasts with models of multiplicative efforts with impact on rent seeking …


Risk aversion and the value of diagnostic tests

Diagnostic tests allow better informed medical decisions when there is uncertainty about a patient’s health status and, therefore, about the desirability to undertake treatment. This paper studies the relation between the expected value of …

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Theory and Decision is devoted to all aspects of decision-making, exploring research in psychology, management science, economics, the theory of games, statistics, operations research, artificial intelligence, cognitive science, and analytical philosophy. Moreover, it addresses cross-fertilization among these disciplines.

This journal draws special attention to experimentation in decision-making and its links to the cognitive sciences. It also addresses applications to various problems in management and organizational science, economics and finance, and computer-supported decision schemes.

Particular topics addressed include preference and belief modeling, experimental decision-making under risk or uncertainty, decision analysis, multi-criteria decision modeling, game theory, negotiation theory, collective decision making, social choice, rationality, cognitive processes and interactive decision-making, and methodology of the decision sciences.

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Theory Decis

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