Religion and Faith: A Decision Theory Perspective

We examine the implications of decision theory for religious choice and evangelism, under the assumption that people choose their religion. The application of decision theory leads us to a broad definition of religion and a particular definition of faith, each related to the uncertainty associated with what happens to a person after death. We examine two extremes: total ambiguity and no ambiguity. For total ambiguity, we show there is “designer religion,” which is a religion that will capture all decision makers applying any one of the standard decision criteria. For no ambiguity, we characterize when a decision maker will find new religious information more valuable and we characterize a “miracle” in a specific way. JEL Classification: C44, D81, D83