Rational Decisions

By Ken Binmore

Categories: Business & Money, Science & Math

Game theorist Ken Binmore offers a concise, accessible account of the theory of rational decision making. He explains the foundations of Bayesian decision theory, its assumptions and limits, and argues that it applies only in small worlds where everything relevant can be known. Binmore discusses alternatives for decisions made under real uncertainty, making the book a clear introduction for students and professionals in economics and related fields.

Recommended by 1 person

• Shane Parrish: “A concise, accessible, and expert view on Bayesian decision making”