In this paper, I seek to establish a framework in which solutions to imperfect recall decision problems can be suitably examined. I introduce a strategy concept which is an extension of the standard concept employed since von Neumann and Morgenstern, and show how it may provide optimal solutions...

We challenge the standard definition of economic rationality as consistency by making use of a novel distinction between axioms of decision theory: consistency and preference axioms. We argue that this distinction has been overlooked by the literature and, as a result, evidence that consistency...