Decision Theory and Decision Behaviour

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The book explores two key approaches to decision theory: the normative approach, which outlines how a perfectly rational actor should make choices, and the descriptive approach, which examines actual decision-making behaviors observed in real life and experiments. It employs a range of mathematical tools, from basic algebra to advanced equations. Each section can be studied independently, and the text highlights the implications of both theories in cognitive psychology, theoretical biology, and philosophy, emphasizing their interdisciplinary relevance.