"A major strength of the book is its linking of decision theory to real-world examples and behaviors, outlining the limitations and alternatives to normative decision theory, while also stressing its strengths and appropriateness in a vast array of situations. Such discussion is particularly valuable in the context of practical applications that imply utility elicitation from individuals. A second major strength is the presence of detailed worked out examples, as well as case studies from either the authors' experience or the literature. As core probability and statistical concepts are reviewed in the earlier chapters, the book is suitable for both students and graduates with a quantitative, although not necessarily statistical, background. The balance between the theoretical exposition and the practical applicability of the concepts makes this book particularly appealing to readers aiming to gain insight into the decision theoretic field for both personal and professional purposes." - Silvia Calderazzo, Appeared in Biometrical Journal, July 2020.