Overview
Rational Decision making is often analyzed within the context of fixed and known outcomes, or at least, probability weighted outcomes.
When the decision maker is making decisions in the context of other decision makers, who can alter their decisions in response, the analysis of rational decision making will include these additional considerations. The resulting analysis then falls within the purview of either game theory or strategy.
Topics
- Game Theory - models competitive decisions as decisions within a structured game.
- Business Strategy - the beginnings of modern corporate strategy lie with the work of Porter. Modern theory builds on this foundation.