Foundations and Applications of Decision Theory [Book Review]

Review of Metaphysics 34 (1):141-142 (1980)
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Abstract

These two books jointly constitute volume 13 of the University of Western Ontario Series in the Philosophy of Science and consist of papers resulting from a workshop held at that university in the spring of 1975. Contributors to the first volume include such notables as Richard C. Jeffrey, Isaac Levi, and R. Duncan Luce. As an introduction to the papers, the editors’ preface is a statement of the goals of the original conference distributed to the invited participants. Twelve of the eighteen papers in the first volume, and five out of nine in the second, deal with technical topics in decision theory and thus call for consideration by experts. This is so even though decision theory is broadly conceived by the editors to include the theory of games, of rational acceptance or rational belief, of value dynamics, and of individual decision-making. One of their main aims is "to explore the view that the concept of rationality [derivable from game theory] has both explanatory and normative force, that both dimensions of this concept can be theoretically integrated, that the explanatory force has far-reaching applications in all social scientific disciplines, and that the normative theories must become empirically controlled by the results of the explanatory theory".

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