In this paper, the problem of completing a contract between a buyer and a seller of insurance is presented as a two-person, zero-sum game, and previous results concerning optimal insurance contracts are reviewed from the viewpoint of game theory. While this point of view seems unrealistic, it is...

Contemporary research on organizations has cast doubt on the extent to which organizations can be expected to adapt to their environments through rational, anticipatory action. Incremental experiential learning has been suggested as an alternative form of organizational intelligence, less...

In recent years there has been increased interest in the effects of internal communication on decision processes. A number of hypotheses relating the bias in information to the final decision have been proposed. In this paper we discuss two laboratory experiments which were designed to test two...

This paper explores the relation between decision theoretic conceptions of risk and the conceptions held by executives. It considers recent studies of risk attitudes and behavior among managers against the background of conceptions of risk derived from theories of choice. We conclude that...