It is widely held that Bayesian decision theory is the final word on how a rational person should make decisions. However, Leonard Savage--the inventor of Bayes
Managers in organisations must make rational decisions. Rational decision making is the opposite of intuitive decision making. It is a strict procedure utilisin
Statistical illiteracy can have an enormously negative impact on decision making. This volume of collected papers brings together applied and theoretical resear
Rational Descriptions, Decisions and Designs is a reference for understanding the aspects of rational decision theory in terms of the basic formalism of informa