Taking Chances: Essays on Rational Choice (Cambridge Studies in Probability, Induction and Decision Theory)

  • Publish Date: 1994-04-29
  • Binding: Hardcover
  • Author: Jordan Howard Sobel
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The essays in this book develop and explore the Bayesian idea that rational actions maximize expected values, where an action's expected value is a weighted average of its agent's values for its possible total outcomes. The author establishes principles for distinguishing options in decision problems and pays much attention to games--both isolated and iterated. The book also views critically Gauthier's revisionist ideas about maximizing rationality.