Note---On Choosing Between Rev. Bayes and Prof. Von Neumann

James P. Kahan
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James P. Kahan: The Rand Corporation, Santa Monica

Management Science, 1983, vol. 29, issue 11, 1334-1336

Abstract: In a recent issue of Management Science, Kadane and Larkey [10], [11] debated with Harsanyi [8], [9] on the relative merits of strategic policies derived from game theoretic vs. Bayesian decision-theoretic orientations. While the fact that the two orientations are virtually first cousins gives a Middle Eastern flavor to the discussion, just as the problems of that unfortunate spot on the globe, the two orientations have substantive differences that should be attended to by people faced with managerial decision problems modelled as games.

Date: 1983
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