The theory of decision making.

This literature review of decision making (how people make choices among desirable alternatives), culled from the disciplines of psychology, economics, and mathematics, covers the theory of riskless choices, the application of the theory of riskless choices to welfare economics, the theory of risky choices, transitivity of choices, and the theory of games and statistical decision functions. The theories surveyed assume rational behavior: individuals have transitive preferences (“… if A is preferred to B, and B is preferred to C, then A is preferred to C.”), choosing from among alternatives in order to “… maximize utility or expected utility.” 209-item bibliography. (PsycINFO Database Record (c) 2006 APA, all rights reserved)

[1]  F. E..  Principles of Economics , 1890, Nature.

[2]  A. Marshall.  Principles of Economics , .

[3]  W. E. Johnson.  The Pure Theory of Utility Curves , 1913 .

[4]  F. Knight.  The economic nature of the firm: From Risk, Uncertainty, and Profit , 2009 .

[5]  J. Viner.  The Utility Concept in Value Theory and Its Critics , 1925, Journal of Political Economy.

[6]  I. Fisher,et al.  A statistical method for measuring "marginal utility" and testing the justice of a progressive income tax , 1927 .

[7]  J. Neumann.  Zur Theorie der Gesellschaftsspiele , 1928 .

[8]  Louis Leon Thurstone,et al.  The indifference function. , 1931 .

[9]  Ragnar Frisch,et al.  New Methods of Measuring Marginal Utility. , 1932 .

[10]  Jerzy Neyman,et al.  The testing of statistical hypotheses in relation to probabilities a priori , 1933, Mathematical Proceedings of the Cambridge Philosophical Society.

[11]  Pareto and Pure Economics , 1933 .

[12]  The Determinateness of the Utility Function , 1934 .

[13]  A. Sweezy.  The Interpretation of Subjective Value Theory in the Writings of the Austrian Economists , 1934 .

[14]  R. G. D. Allen,et al.  The Nature of Indifference Curves , 1934 .

[15]  J. Hicks,et al.  A Reconsideration of the Theory of Value. Part II. A Mathematical Theory of Individual Demand Functions , 1934 .

[16]  J. Hicks,et al.  A Reconsideration of the Theory of Value. Part I , 1934 .

[17]  R. G. D. Allen.  A Note on the Determinateness of the Utility Function , 1935 .

[18]  N. Georgescu-Roegen.  The Pure Theory of Consumers Behavior , 1936 .

[19]  On the Determinateness of the Utility Function , 1937 .

[20]  P. Samuelson.  A Note on Measurement of Utility , 1937 .

[21]  B. D. Finetti.  La prévision : ses lois logiques, ses sources subjectives , 1937 .

[22]  P. Samuelson.  A Note on the Pure Theory of Consumer's Behaviour , 1938 .

[23]  Abram Burk.  A Reformulation of Certain Aspects of Welfare Economics , 1938 .

[24]  H. Hotelling,et al.  The Theory and Measurement of Demand. , 1938 .

[25]  Paul A. Samuelson,et al.  The Numerical Representation of Ordered Classifications and the Concept of Utility , 1938 .

[26]  P. Lazarsfeld.  Principles of Topological Psychology , 1938 .

[27]  The End of the Marginal Utility Theory , 1938 .

[28]  L. Robbins,et al.  Interpersonal Comparisons of Utility: A Comment , 1938 .

[29]  P. Samuelson.  A Note on the Pure Theory of Consumer's Behaviour: An Addendum , 1938 .

[30]  J. Hicks,et al.  Value and Capital , 2017 .

[31]  W. E. Armstrong.  The Determinateness of the Utility Function , 1939 .

[32]  A Reply to Mr. Samuelson's Note , 1939 .

[33]  The End of Marginal Utility: A Note on Dr. Bernardelli's Article , 1939 .

[34]  The Limitations of Statistical Demand Curves , 1939 .

[35]  N. Kaldor.  The Philosophy of Economics: Welfare Propositions of Economics and Interpersonal Comparisons of Utility , 1939 .

[36]  T. Scitovszky.  A Note on Welfare Propositions in Economics , 1941 .

[37]  Dorwin Cartwright,et al.  Decision-time in relation to the differentiation of the phenomenal field. , 1941 .

[38]  Gerhard Tintner,et al.  The Theory of Choice Under Subjective Risk and Uncertainty , 1941 .

[39]  Dorwin Cartwright,et al.  Relation of Decision-Time to the Categories of Response , 1941 .

[40]  Leon Festinger,et al.  Studies in decision. II. An empirical test of a quantitative theory of decision. , 1943 .

[41]  Consumer's Surplus and Cardinal Utility , 1943 .

[42]  C. L. Hull.  Principles of behavior : an introduction to behavior theory , 1943 .

[43]  Herman Wold,et al.  A synthesis of pure demand analysis , 1943 .

[44]  L. Festinger,et al.  A quantitative theory of decision , 1943 .

[45]  Leon Festinger,et al.  Studies in decision: I. Decision-time, relative frequency of judgment and subjective confidence as related to physical stimulus difference. , 1943 .

[46]  Kurt Lewin,et al.  Level of aspiration. , 1944 .

[47]  On the economic theory of lottery-gambles , 1945 .

[48]  James N. Morgan.  Can We Measure the Marginal Utility of Money , 1945 .

[49]  W. Vickrey.  Measuring Marginal Utility by Reactions to Risk , 1945 .

[50]  Professor Knight and the Theory of Demand , 1946, Journal of Political Economy.

[51]  E. Rowland.  Theory of Games and Economic Behavior , 1946, Nature.

[52]  The Meaning of Rationality: A Note on Professor Lange's Article , 1946 .

[53]  Kurt Lewin,et al.  Behavior and development as a function of the total situation. , 1946 .

[54]  J. Marschak,et al.  Neumann's and Morgenstern's New Approach to Static Economics , 1946, Journal of Political Economy.

[55]  Comment on Mr. Bishop's Article , 1946, Journal of Political Economy.

[56]  Realism and Relevance in the Theory of Demand , 1946, Journal of Political Economy.

[57]  THE PSYCHOLOGICAL ASSUMPTIONS OF ECONOMICS , 1946 .

[58]  C. Kaysen,et al.  A Revolution in Economic Theory , 1946 .

[59]  Contribution of Psychological Data to Economic Analysis , 1947 .

[60]  W. E. Armstrong.  Uncertainty and the Utility Function , 1948 .

[61]  P. Samuelson.  Consumption Theory in Terms of Revealed Preference , 1948 .

[62]  M. G. Preston,et al.  An experimental study of the auction-value of an uncertain outcome. , 1948, The American journal of psychology.

[63]  L. J. Savage,et al.  The Utility Analysis of Choices Involving Risk , 1948, Journal of Political Economy.

[64]  M. A. Girshick,et al.  Bayes and minimax solutions of sequential decision problems , 1949 .

[65]  W. A. Weisskopf.  Psychological Aspects of Economic Thought , 1949, Journal of Political Economy.

[66]  I. Little.  THE FOUNDATIONS OF WELFARE ECONOMICS , 1949 .

[67]  W. Baumol.  The Community Indifference Map: A Construction , 1949 .

[68]  I. M. D. Little.  A REFORMULATION OF THE THEORY OF CONSUMER'S BEHAVIOUR1 , 1949 .

[69]  R. M. Griffith,et al.  Odds adjustments by American horse-race bettors. , 1949, The American journal of psychology.

[70]  H. Frederic Bohnenblust,et al.  The Theory of Games , 1950 .

[71]  N. Georgescu-Roegen.  The Theory of Choice and the Constancy of Economic Laws , 1950 .

[72]  S. P. Hayes.  Some psychological problems of economics. , 1950, Psychological bulletin.

[73]  W. O. Jenkins,et al.  Partial reinforcement: a review and critique. , 1950, Psychological bulletin.

[74]  G. Stigler.  The Development of Utility Theory. I , 1950, Journal of Political Economy.

[75]  J. Marschak.  Rational Behavior, Uncertain Prospects, and Measurable Utility (1950) , 1950 .

[76]  Paul A. Samuelson,et al.  The Problem of Integrability in Utility Theory , 1950 .

[77]  THE COMMON SENSE OF INDIFFERENCE CURVES , 1950 .

[78]  C H COOMBS,et al.  Psychological scaling without a unit of measurement. , 1950, Psychological review.

[79]  Philip Wolfe,et al.  Contributions to the theory of games , 1953 .

[80]  H. Houthakker.  Revealed Preference and the Utility Function , 1950 .

[81]  L. Stein,et al.  Probability and the Weighing of Evidence , 1950 .

[82]  P. Samuelson.  EVALUATION OF REAL NATIONAL INCOME , 1950 .

[83]  A Note on Measures of Utility , 1950 .

[84]  A. Hart,et al.  Experimental Verification of a Composite Indifference Map , 1951, Journal of Political Economy.

[85]  Richard Stone,et al.  The Role of Measurement in Economics. , 1951 .

[86]  L. A. Goodman,et al.  Social Choice and Individual Values , 1951 .

[87]  W. E. Armstrong.  UTILITY AND THE THEORY OF WELFARE , 1951 .

[88]  Frederick Mosteller,et al.  A model for stimulus generalization and discrimination. , 1951, Psychological review.

[89]  Clyde H. Coombs.  Mathematical Models in Psychological Scaling , 1951 .

[90]  J. Marschak.  Why "should" Statisticians and Businessmen Maximize "moral Expectation"? , 1951 .

[91]  H. Landahl.  A neurobiophysical interpretation of certain aspects of the problem of risks , 1951 .

[92]  K. Arrow.  An Extension of the Basic Theorems of Classical Welfare Economics , 1951 .

[93]  Frederick Mosteller,et al.  An Experimental Measurement of Utility , 1951, Journal of Political Economy.

[94]  William J. Baumol,et al.  The Neumann-Morgenstern Utility Index--An Ordinalist View , 1951, Journal of Political Economy.

[95]  K. Arrow.  Social Choice and Individual Values , 1951 .

[96]  K. Arrow.  Alternative Approaches to the Theory of Choice in Risk-Taking Situations , 1951 .

[97]  Abraham Wald,et al.  Statistical Decision Functions , 1951 .

[98]  Bruno De Finetti.  Recent Suggestions for the Reconciliation of Theories of Probability , 1951 .

[99]  R. R. Bush,et al.  A model for stimulus generalization and discrimination. , 1951, Psychological review.

[100]  R. W. Marks,et al.  The effect of probability, desirability, and "privilege" on the stated expectations of children. , 1951, Journal of personality.

[101]  Clyde H. Coombs,et al.  A theory of psychological scaling , 1951 .

[102]  Leonard J. Savage,et al.  The Theory of Statistical Decision , 1951 .

[103]  M. M. Flood.  A PREFERENCE EXPERIMENT , 1951 .

[104]  Icinqsley Laffer..  THE FOUNDATIONS OF WELFARE ECONOMICS , 1951 .

[105]  The Role of Measurement in Economics , 1951 .

[106]  R. R. Bush,et al.  A Mathematical Model for Simple Learning , 1951 .

[107]  E. Malinvaud,et al.  Note on von Neumann-Morgenstern's Strong Independence Axiom , 1952 .

[108]  A Note on Revealed Preference and the Transitivity Condition , 1952 .

[109]  Paul A. Samuelson,et al.  Probability, Utility, and the Independence Axiom , 1952 .

[110]  E. Mishan.  The Principles of Compensation Reconsidered , 1952, Journal of Political Economy.

[111]  TESTING ORGANIZATION THEORIES , 1952 .

[112]  H. Markowitz.  The Utility of Wealth , 1952, Journal of Political Economy.

[113]  A. Charnes,et al.  The Strong Independence Assumption--Gasoline Blends and Probability Mixtures , 1952 .

[114]  E. Bilodeau.  Statistical versus intuitive confidence. , 1952, The American journal of psychology.

[115]  On the Use of the Theory of Probability in Economics , 1952 .

[116]  L. J. Savage,et al.  The Expected-Utility Hypothesis and the Measurability of Utility , 1952, Journal of Political Economy.

[117]  A Rehabilitation of the Classical Theory of Marginal Utility , 1952 .

[118]  George Katona,et al.  Psychological Analysis of Economic Behavior. , 1952 .

[119]  G. L. S. Shackle,et al.  Ordinal Preferences or Cardinal Utility , 1952 .

[120]  Conditions for a Social Welfare Function , 1953, Journal of Political Economy.

[121]  Choice in Psychology and as Economic Assumption , 1953 .

[122]  M. Fréchet.  Commentary on the Three Notes of Emile Borel , 1953 .

[123]  W. Edwards,et al.  Probability-preferences in gambling. , 1953, The American journal of psychology.

[124]  R. C. Sprowls.  Psychological-mathematical probability in relationships of lottery gambles. , 1953, The American journal of psychology.

[125]  M. Allais.  L'Extension des Theories de l'Equilibre Economique General et du Rendement Social au Cas du Risque , 1953 .

[126]  F. W. Irwin,et al.  Stated expectations as functions of probability and desirability of outcomes. , 1953, Journal of personality.

[127]  George Katona,et al.  Psychological Analysis of Economic Behavior. , 1952 .

[128]  George Katona,et al.  Psychological Analysis of Economic Behavior. , 1953 .

[129]  Maurice Allais,et al.  La psychologie de l'homme rationnel devant le risque : la théorie et l'expérience , 1953 .

[130]  Sprowls Rc,et al.  Psychological-mathematical probability in relationships of lottery gambles. , 1953 .

[131]  Lionel Robbins.  Robertson on Utility and Scope , 1953 .

[132]  A. W. Tucker,et al.  Contributions to the Theory of Games , 1953 .

[133]  Clifford Hildreth,et al.  Alternative Conditions for Social Orderings , 1953 .

[134]  F. Attneave.  Psychological probability as a function of experienced frequency. , 1953, Journal of experimental psychology.

[135]  G. Katona.  Rational behavior and economic behavior. , 1953, Psychological review.

[136]  P. Samuelson.  Consumption Theorems in Terms of Overcompensation Rather Than Indifference Comparisons , 1953 .

[137]  M. Allais.  Le comportement de l'homme rationnel devant le risque : critique des postulats et axiomes de l'ecole americaine , 1953 .

[138]  Emil Kauder,et al.  Genesis of the Marginal Utility Theory: From Aristotle to the End of the Eighteenth Century , 1953 .

[139]  J. Milnor,et al.  AN AXIOMATIC APPROACH TO MEASURABLE UTILITY , 1953 .

[140]  M. Fréchet.  Emile Borel, Initiator of the Theory of Psychological Games and Its Application , 1953 .

[141]  The Retarded Acceptance of the Marginal Utility Theory , 1953 .

[142]  Irwin D. J. Bross,et al.  Design for Decision , 1954 .

[143]  John C. Harsanyi,et al.  Cardinal Utility in Welfare Economics and in the Theory of Risk-taking , 1953, Journal of Political Economy.

[144]  R. Russell.  Research Methods in the Behavioral Sciences. , 1954 .

[145]  N. L. Johnson,et al.  Design for Decision. , 1954 .

[146]  W. Edwards.  The reliability of probability-preferences. , 1954, The American journal of psychology.

[147]  C. Coombs.  A method for the study of interstimulus similarity , 1954 .

[148]  M. A. Girshick,et al.  Theory of games and statistical decisions , 1955 .

[149]  W. Edwards.  Probability-preferences among bets with differing expected values. , 1954, The American journal of psychology.

[150]  Maurice Allais,et al.  Fondements d'une Theorie Positive des Choix Comportant un Risque et Critique des Postulats et Axiomes de l'Ecole Americaine. , 1956 .