Taking Chances: Essays on Rational Choice - Paperback

by Jordan Howard Sobel (Author)

The essays in this book develop and explore the Bayesian idea that rational actions maximize expected values, where an action's expected value is a weighted average of its agent's values for its possible total outcomes. The author establishes principles for distinguishing options in decision problems and pays much attention to games--both isolated and iterated. The book also views critically Gauthier's revisionist ideas about maximizing rationality.