Goodreads helps you keep track of books you want to read.
Start by marking “Rational Decisions” as Want to Read:
Rational Decisions
Enlarge cover
Rate this book
Clear rating
Open Preview

Rational Decisions

3.92  ·  Rating details ·  51 ratings  ·  8 reviews
It is widely held that Bayesian decision theory is the final word on how a rational person should make decisions. However, Leonard Savage--the inventor of Bayesian decision theory--argued that it would be ridiculous to use his theory outside the kind of small world in which it is always possible to look before you leap. If taken seriously, this view makes Bayesian decision ...more
Hardcover, 200 pages
Published January 18th 2009 by Princeton University Press (first published January 1st 2008)
More Details... Edit Details

Friend Reviews

To see what your friends thought of this book, please sign up.

Reader Q&A

To ask other readers questions about Rational Decisions, please sign up.

Be the first to ask a question about Rational Decisions

Community Reviews

Showing 1-30
Average rating 3.92  · 
Rating details
 ·  51 ratings  ·  8 reviews


More filters
 | 
Sort order
Start your review of Rational Decisions
Hélio Steven
Sep 19, 2020 rated it really liked it
Binmore is a well known authority on game theory, especially its classical version. In this book he takes a step back to tackle issues in decision theory -- more specifically, he's interested in developing an approach to how agents can make rational decisions in large worlds, which are worlds with a whole lot more of complexity and noise, and thus riddled with risk and uncertainty. To this end, Binmore goes back to the foundations of decision theory and starts off by clearing the conceptual grou ...more
Dio Mavroyannis
Apr 22, 2020 rated it it was amazing
This is a great little book, lots of paradoxes, a great way of explaining things. Goes through small/large world distinctions, Bayesian decision theory etc. I consider most of the content here to be approachable by a non-expert in decision theory(though to be realistic, you probably need some math background to be comfortable from the first to the last chapter). The technical appendix is also brilliantly written with some absolutely fantastic measure-theoretic examples. No book like it!
Adrien Mogenet
Sep 25, 2020 rated it liked it
Lots of insights on the different paradigms ruling the decision theories. I don't necessarily agree with all of Ken's views on rationality, but his theories on the limitations of bayesianism are definitely worth a read. It's well written, and it's easy to spot the sections you want to dig and the ones you can skip without losing the essence of the theories. A great recipe! ...more
Fabian
Dec 26, 2020 rated it liked it
Worth reading if you are interested in decision theory, but lacks any (?) real world applicability. Granted while I didn’t skim trough it, I could have read it more thoroughly but it was just to boring for that.

As for real world applicability you are much better served reading Nassim Taleb or even the behavioral economists.
Denis Vasilev
Aug 22, 2017 rated it really liked it
Recommended to Denis by: Nassim Taleb
Сложновато без серьезной подготовки в Теории игр и Теории вероятностей
Яш
Jul 24, 2018 rated it really liked it
First read through was mostly skimming. Should read deeply second time around.
Ai Herrera huerta
Nov 12, 2012 is currently reading it
Creo que será un buen libro para entender las decisiones
Liquidlasagna
rated it it was amazing
Jun 09, 2020
Toygar Kerman
rated it it was amazing
Dec 01, 2019
Apoorva
rated it it was amazing
Jun 24, 2017
Balveda
rated it it was amazing
Jan 05, 2015
Andrew
rated it liked it
Apr 05, 2011
Paul Sas
rated it really liked it
Jun 16, 2016
Nelson Amaya
rated it it was ok
Dec 15, 2017
Arnaud Wolff
rated it really liked it
Jan 06, 2019
Benjamin Menashe
rated it liked it
Dec 11, 2020
Ramiro
rated it really liked it
May 10, 2019
Alexander R
rated it it was amazing
Jan 03, 2020
Nick Huntington-Klein
rated it really liked it
Apr 07, 2013
g.lkoa
rated it it was amazing
Mar 15, 2017
Anthony
rated it really liked it
Apr 10, 2020
Seiichi
rated it it was amazing
Jan 01, 2014
Takafumi Kawasaki
rated it really liked it
May 22, 2020
John
rated it really liked it
Sep 09, 2014
Jasper Lindblom
rated it really liked it
Aug 18, 2019
Nym
rated it it was amazing
Jun 23, 2020
Adam
rated it really liked it
Jul 22, 2014
Joshua Pearl
rated it it was amazing
Apr 30, 2019
Yilmaz Kocer
rated it it was amazing
May 18, 2015
« previous 1 next »
There are no discussion topics on this book yet. Be the first to start one »

Readers also enjoyed

  • Predictably Irrational: The Hidden Forces That Shape Our Decisions
  • Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets
  • Why Nations Fail: The Origins of Power, Prosperity, and Poverty
  • The Status Syndrome: How Social Standing Affects Our Health and Longevity
  • The Innovator's Dilemma: The Revolutionary Book that Will Change the Way You Do Business
  • The Black Swan: The Impact of the Highly Improbable
  • Losing My Virginity: How I've Survived, Had Fun, and Made a Fortune Doing Business My Way
  • The Phoenix Project: A Novel About IT, DevOps, and Helping Your Business Win
  • The Everything Store: Jeff Bezos and the Age of Amazon
  • The Innovation Algorithm: Triz, Systematic Innovation and Technical Creativity
  • 2001: A Space Odyssey (Space Odyssey, #1)
  • Guns, Germs, and Steel: The Fates of Human Societies
  • Foundation (Foundation, #1)
  • Tao Te Ching
  • Social Cognition
  • The Dream of Reason: A History of Western Philosophy from the Greeks to the Renaissance
  • Explaining Social Behavior: More Nuts and Bolts for the Social Sciences
See similar books…
41 followers
Professor of Economics at UCL, after holding corresponding positions at LSE and the University of Pennsylvania and Michigan. Onetime Professor of Mathematics at LSE.

Author of 77 published papers and 11 books. Research in evolutionary game theory, bargaining theory, experimental economics, political philosophy, mathematics and statistics.

Grants from National Science Foundation (3), ESRC (1), STICER
...more

News & Interviews

“I'm in a weird place because the book is about to come out. So I'm basically just walking around like a raw nerve and I'm not sure that I...
31 likes · 6 comments