Questions In Decision Theory

This paper surveys a few major questions in the field of decision theory. It is argued that a re-examination of some of the fundamental concepts of the field may have important implications to theoretical and even empirical research in economics and related fields. Decision theory appears to be at a crossroad, in more sense than one. Over half a century after the defining and, for many years, definitive works of the founding fathers, the field seems to be asking very basic questions regarding its goal and purpose, its main questions and their answers, as well as its methods of research.