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Uncertain Decisions pp 237–260Cite as

The Recent Advances in Decision Theory Under Uncertainty

a non-technical introduction

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Abstract

Decision theory under uncertainty (from now on DT) has played a remarkable role in many scientific disciplines such as economics, management, sociology, political science, law, philosophy, psychology, biology, even physics1. Any scientific discipline involves a relationship between an observer and an object of study. DT may often intervene in order to clarify the influence of the observer on her object, or at least on its description, explanation, and forecast. More in general, inductive (or abductive) inferences based on empirical evidence are often guided by procedures and criteria which are decision-theoretic, or may be rephrased in these terms. In the social sciences, even the object of the analysis is often taken to be, or to be reducible to, a set of past, present, or prospective, individual or collective decisions. Though the impact of DT has been deep in many scientific disciplines, it is safe to say that it has been, and is more and more, remarkable in economics (Anand (1993, p.l)). Not by chance, many of its main contributors in this century, have been either economists (Knight, Keynes, Morgenstern, Allais, Shackle, Ellsberg, Quiggin, Yaari, Kreps, etc.) or scholars with a strong interest in economics (Ramsay, de Finetti, {ptvon} Neumann, Savage, Aumann, Machina, Schmeidler, Epstein, Gilboa, etc.).

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  1. Alessandro Vercelli
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  1. University of Siena, Italy

    Luigi Luini

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Vercelli, A. (1999). The Recent Advances in Decision Theory Under Uncertainty. In: Luini, L. (eds) Uncertain Decisions. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-5083-9_11

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