Decision support systems (DSS) have been extensively used in the management of natural resources for nearly two decades. However, practical difficulties with the application of DSS in real-world situations have become increasingly apparent. Complexities of decision making, encountered in the context of ecosystem management, are equally present in sustainable forestry. Various writers have criti...

Bayesian decision theory is here construed as explicating a particular concept of rational choice and Bayesian probability is taken to be the concept of probability used in that theory. Bayesian probability is usually identified with the agent’s degrees of belief but that interpretation makes Bayesian decision theory a poor explication of the relevant concept of rational choice. A satisfactory ...

We develop a theory of quantum rational decision making in the tradition of Anscombe and Aumann’s axiomatisation of preferences on horse lotteries. It is essentially the Bayesian decision theory generalised to the space of Hermitian matrices. Among other things, this leads us to give a representation theorem showing that quantum complete rational preferences are obtained by means of expected ut...

Early IS-outsourcing research is mainly based on three assumptions: the research results are normative, the decision maker acts in a completely rational manner, and the decision is made at a single point in time. Within the last decade, some of these assumptions have been softened, and studies have attempted to broaden the research by investigating the IS-outsourcing decision process from a mor...

The human mind appears to be equipped with a toolbox full of cognitive strategies, but how do people decide when to use which strategy? We leverage rational metareasoning to derive a rational solution to this problem and apply it to decision making under uncertainty. The resulting theory reconciles the two poles of the debate about human rationality by proposing that people gradually learn to m...

We develop a theory of quantum rational decision making in the tradition of Anscombe and Aumann’s axiomatisation of preferences on horse lotteries. It is essentially the Bayesian decision theory generalised to the space of Hermitian matrices. Among other things, this leads us to give a representation theorem showing that quantum complete rational preferences are obtained by means of expected ut...