Chapter

Decision Theory

James Bergin

in Microeconomic Theory

Published in print May 2005 | ISBN: 9780199280292
Published online July 2005 | e-ISBN: 9780191602498 | DOI: http://dx.doi.org/10.1093/0199280290.003.0001
 Decision Theory

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Deals with decision theory. The coverage includes decision making under risk and uncertainty. The theories of vonNeumann–Morgenstern and Savage are reviewed, along with recent developments in the field.

Keywords: ambiguity aversion; independence; preference orderings; rank order utility; risk; sure-thing principle; uncertainty; weighted utility

Chapter.  9999 words.  Illustrated.

Subjects: Microeconomics

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