Rational Decisions by Ken Binmore
It is widely held that Bayesian decision theory is the final word on how a rational person should make decisions. However, Leonard Savage argued that it would be ridiculous to use his theory outside the kind of small world. This book explains the foundations of this theory and shows why Savage restricted the theory's application to small worlds.
This short, ambitious book is intended to appeal to the presumed curiosity of economists, statisticians, and philosophers as to what constitutes rationality in scientific inductionBinmore, a game theorist aware of the daunting complexity of his subject matter for nonspecialists, has gone to great pains in making his work accessible, even offering marginal symbols to indicate the substantial portions of the text best avoided by readers lacking the author's appetite for mathematical data. Choice Rational Decisions contains a wealth of stimulating arguments and thought-provoking claims. It would be an excellent text for an advanced seminar in decision theory, particularly for students with a solid technical background. And no economist, philosopher or political scientist seriously interested in theories of rational decision-making can afford to ignore Binmore's controversial and iconoclastic claims. -- Jose Luis Bermudez Economics and Philosophy [T]he book constitutes an interesting contribution to this area of research rewarding for philosophers, economists, psychologists, and mathematicians alike. -- Reinhard Slick Mathematical Reviews It is an original and stimulating book. I enjoyed it very much, and expect that you may too. -- Brian Skyrms British Journal for Philosophy of Science
Ken Binmore is a mathematician turned economist and philosopher. He has held chairs at the London School of Economics and Political Science as well as other universities, and is professor emeritus of economics at University College London. His recent books include "Natural Justice, Does Game Theory Work?", and "A Very Short Introduction to Game Theory".
| SKU | Unavailable |
| ISBN 13 | 9780691130743 |
| ISBN 10 | 0691130744 |
| Title | Rational Decisions |
| Author | Ken Binmore |
| Series | The Gorman Lectures In Economics |
| Condition | Unavailable |
| Binding Type | Hardback |
| Publisher | Princeton University Press |
| Year published | 2009-01-18 |
| Number of pages | 224 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |