Religion and Faith: A Decision Theory Perspective
AbstractWe examine the implications of decision theory for religious choice and evangelism, under the assumption that people choose their religion. The application of decision theory leads us to a broad definition of religion and a particular definition of faith, each related to the uncertainty associated with what happens to a person after death. We examine two extremes: total ambiguity and no ambiguity. For total ambiguity, we show there is “designer religion,” which is a religion that will capture all decision makers applying any one of the standard decision criteria. For no ambiguity, we characterize when a decision maker will find new religious information more valuable and we characterize a “miracle” in a specific way.
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Bibliographic InfoPaper provided by University of Nevada, Reno, Department of Economics & University of Nevada, Reno , Department of Resource Economics in its series Working Papers with number 08-003.
Length: 24 pages
Date of creation: Aug 2008
Date of revision:
Religion; Decision Theory; Ambiguity; Optimism; Pessimism;
Find related papers by JEL classification:
- C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-08-31 (All new papers)
- NEP-EVO-2008-08-31 (Evolutionary Economics)
- NEP-UPT-2008-08-31 (Utility Models & Prospect Theory)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Montgomery, James D, 1996. "Contemplations on the Economic Approach to Religious Behavior," American Economic Review, American Economic Association, vol. 86(2), pages 443-47, May.
- McCloskey, Deirdre N., 2006. "The Bourgeois Virtues," University of Chicago Press Economics Books, University of Chicago Press, edition 0, number 9780226556635.
- Deirdre McCloskey, 2004. "The Bourgeois Virtues," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 5(3), pages 1-16, July.
- Azzi, Corry & Ehrenberg, Ronald G, 1975. "Household Allocation of Time and Church Attendance," Journal of Political Economy, University of Chicago Press, vol. 83(1), pages 27-56, February.
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