Action theory: problems and alternative approaches

Expected Utility Theory and Alternative Approaches

Alternative Approaches for Solving Real-Options Problems

B et al. (2005) describe an approach for using traditional decision analysis tools to solve real-option valuation problems. Their approach calls for a mix of discounted cash flow analysis and risk-neutral valuation methods and is implemented using Monte Carlo simulation and binomial decision trees. In this note, I critique their approach and discuss some alternative approaches for solving these...

Grey theory, VIKOR and TOPSIS Approaches

Abstract This author introduces the concept of Stepwise Strategy Approach (SSA) for dealing with a number of problems arises in the current age of technology. This new idea is combined with the knowledge of Grey Theory for adding flexibility to decision making process. Grey theory is useful for grasping the ambiguity exists in the utilized information and the fuzziness appears in the human judg...

Modal Logic and Game Theory: Two Alternative Approaches

Two views of game theory are discussed: (1) game theory as a description of the behavior of rational individuals who recognize each other’s rationality and reasoning abilities, and (2) game theory as an internally consistent recommendation to individuals on how to act in interactive situations. It is shown that the same mathematical tool, namely modal logic, can be used to explicitly model both...

Interprofessional Education Conference: Grounding Action in Theory

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