Synopsis
Excerpt from Decomposition and the Control of Errors in Decision Analytic Models
Lichtenstein, More recently, the exchange of ideas has become a dialogue. For instance, psychologists and economists have raised important questions about the descriptive validity of rationality assumptions in economic theory (hogarth Reder, 1987; Simon, 1978; Thaler, Another exciting development has been the use of the results of descriptive studies of decision making to guide attempts to reformulate the axiomatic foundations of utility theory (bell Farquhar, 1986; Fishburn, 1982; Machina.
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