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Decision theory can be broken into two branches: normative decision theory, which gives advice on how to make the best decisions given a set of uncertain beliefs and a set of values, and descriptive decision theory which analyzes how existing, possibly irrational agents actually make decisions. Health And Wellbeing Across The Life Course The Mother Of All Arts Building Construction and Superintendence An Uncertain Heart (Great Lakes Series, Book 1) (Heartsong Presents... Expliquemonos a Kafka Edgenuity Personal Finance Answers Graph A very fast intro to decision theory . There are 4 basic elements in decision theory: acts, events, outcomes, and payoffs. Acts are the actions being considered by the agent -in the example elow, taking the raincoat or not; events are occurrences taking place outside the control of the agent (rain or lack thereof); outcomes are the result of the occurrence (or lack of it) of acts and events ... 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