Forex Trading
Decision Theory Definition & Examples
Early decision theorists, motivated by a misguided scientific methodology, thought of preferences as operationally defined in terms of overt choices, so that, by definition, an agent prefers A to B if and only if (iff) she will incur a cost to choose A over B. Even though this sort of behaviorism remains firmly ensconced in some areas of economics, it has been widely and effectively criticized (Sen 1977, Joyce 1999). In the end, preferences are Leia mais…
