Decision theories and methodologies
V Tang, K Otto, W Seering
Contributions to Management Science | Published : 2018
This chapter introduces the extant decision theories. Whereas the literature segments the field into the Normative, Descriptive, and Prescriptive theories, we identify a fourth. That is the Declarative strand of decision-making. We discuss all four strands of research and praxis. We locate our prescriptive paradigm in the Prescriptive segment. We discuss the question of what is a good decision and a good process. We will close this question in Chap. 10 after we have had the opportunity to illustrate the use of the machinery of our prescriptive paradigm in the main body of the book.