One theoryofdecisionmaking says you ought to maximize your expected returns, where an expected return is the outcome multiplied by the probability of winning it.
One set of authors concluded that the reversal effect was inconsistent not only with utility theory but also with every existing theoryof economic decision-making.
The book provides practical methods for supporting improved participatory processes, including the application oftheory and models to aid decision-making.
D. in applied mathematics, the 50-year-old Berezovsky says he spent 25 years doing research on decision-making theory at the Russian Academy of Sciences.