Ludwig von Mises was born 144 years ago today. His economic masterpieces are as relevant and powerful today as when they were ...

In Richard Bradley’s book, Decision Theory with a Human Face (2017), we have selected two themes for discussion. The first is the Bolker-Jeffrey (BJ) theory of decision, which the book uses throughout ...

When survival over generations is the end game, researchers say it makes sense to undervalue long shots that could be profitable and overestimate the likelihood of rare bad outcomes. Making decisions ...

Among ongoing efforts to rethink the basic tenets of mainstream economics is a provocative new book by James Galbraith and Jing Chen. The authors sweep aside the intellectual structure of mainstream ...

Regret theory postulates that decision‐makers do not solely evaluate outcomes based on traditional expected utility; they also incorporate the anticipated emotional response resulting from realising ...