Introduction: An Overview of Decision Theory

Abstract

Decision theory deals with situations in which one or more actors must make choices among given alternatives. These alternatives may be courses of action to be undertaken, objects to possess, amounts of money to pay for them, and so on. They may also be ‘what to believe’. For instance, a jury deliberating on the guilt or innocence of a defendant must eventually choose collectively between ‘believing that the defendant is guilty’ and ‘believing that he is innocent’.