TY - JOUR
T1 - Decision making in mixed situations in which both chance and a rival player are confronted simultaneously
AU - Diskin, Abraham
AU - Felsenthal, Dan S.
PY - 1978
Y1 - 1978
N2 - The unfolding theory of decision making has extensively discussed competitive decision situations. However, one barely finds any discussion of mixed situations, i.e., situations in which both chance and a rival player are confronted simultaneously—especially when players are totally ignorant of the objective probabilities of the different natural states and when the formation of subjective probabilities is impossible. It is quite plausible that in two‐dimensional mixed situations (that are characteristic of most bargaining situations or noncompetitive situations in which the players' payoffs are mutually independent) the confronting rivals will end up by choosing the same alternative if they adopt the same decision criterion. Meaningful labeling of the various states of nature in symmetrical situations led respondents in an experiment to view problems confronting the rivals as asymmetrical. Many of those unfamiliar with decision theory were unlikely to employ subjective probabilities in their decision analysis even when these could be formed, and tended to employ, instead, mainly the minimax‐ maximin criterion.
AB - The unfolding theory of decision making has extensively discussed competitive decision situations. However, one barely finds any discussion of mixed situations, i.e., situations in which both chance and a rival player are confronted simultaneously—especially when players are totally ignorant of the objective probabilities of the different natural states and when the formation of subjective probabilities is impossible. It is quite plausible that in two‐dimensional mixed situations (that are characteristic of most bargaining situations or noncompetitive situations in which the players' payoffs are mutually independent) the confronting rivals will end up by choosing the same alternative if they adopt the same decision criterion. Meaningful labeling of the various states of nature in symmetrical situations led respondents in an experiment to view problems confronting the rivals as asymmetrical. Many of those unfamiliar with decision theory were unlikely to employ subjective probabilities in their decision analysis even when these could be formed, and tended to employ, instead, mainly the minimax‐ maximin criterion.
KW - decision analysis in mixed situations
KW - decision criteria
KW - two‐person games
UR - http://www.scopus.com/inward/record.url?scp=84980162605&partnerID=8YFLogxK
U2 - 10.1002/bs.3830230313
DO - 10.1002/bs.3830230313
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AN - SCOPUS:84980162605
SN - 0005-7940
VL - 23
SP - 256
EP - 263
JO - Systems Research and Behavioral Science
JF - Systems Research and Behavioral Science
IS - 3
ER -