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Descriptive Decision Theory

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[New Entry by Jake Chandler on September 26, 2017.] Descriptive decision theory is concerned with characterising and explaining regularities in the choices that people are disposed to make. It is standardly distinguished from a parallel enterprise, normative decision theory, which seeks to provide an account of the choices that people ought to be disposed to make. Much of the work in this area has been devoted to the building and testing of formal models that aim to improve on the descriptive adequacy of a framework known as "Subjective Expected Utility" (SEU)....

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News source: Stanford Encyclopedia of Philosophy

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