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

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  • James P. Kahan

    (The Rand Corporation, Santa Monica)

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.

Suggested Citation

  • James P. Kahan, 1983. "Note---On Choosing Between Rev. Bayes and Prof. Von Neumann," Management Science, INFORMS, vol. 29(11), pages 1334-1336, November.
  • Handle: RePEc:inm:ormnsc:v:29:y:1983:i:11:p:1334-1336
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    File URL: http://dx.doi.org/10.1287/mnsc.29.11.1334
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