OR as rational choice: a decision and game theory perspective

R J Ormerod ()
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R J Ormerod: University of Warwick

Journal of the Operational Research Society, 2010, vol. 61, issue 12, 1761-1776

Abstract: Abstract Social science disciplines have used decision theory and game theory to provide metaphorical understanding and analytical rigour in their particular domains. The paper explores whether a similar perspective can be applied to operational research (OR) in order to provide an integrating theme for both theory and practice. It is argued that, while the methods of OR are instrumentally rational, OR interventions embrace non-instrumental aspects as well. A case study of an application of decision theory is described and analysed from a decision and game theory (DGT) perspective. The case demonstrates that although the model developed was instrumental, the structure and content of the model reflected the normative and communicative aspects of the decision context. The paper concludes that OR could use a DGT perspective as a conceptual framework for the teaching, research and practice of OR.

Keywords: decision theory; game theory; social science; philosophy of OR (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (7)

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DOI: 10.1057/jors.2009.146

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