Foundations of Rational Choice Under Risk

Rating:
Summary: Important Text in Decision Theory
Review: Paul Anand takes the Subjective Expected Utility Theory (SEU) to the task in this conscise introduction to decision theory. Anand demonstrates deep knowledge of decision theory and its limitations as revealed by work in experimental psychology. Normative implications of mathematically based choice theories are discussed. Useful as a reference for a specialist, this book will open new vistas to nonspecialists interested in ideas of human choice, rationality, and implications of our decisions.