Decision theory and nonmonotonic logics are formalisms that can be employed to represent and solve problems of planning under uncertainty. We analyze the usefulness of these two approaches by establishing a simple correspondence between the two formalisms. The analysis indicates that planning using nonmonotonic logic comprises two decision-theoretic concepts: probabilities (degrees of belief in planning hypotheses) and utilities (degrees of preference for planning outcomes). We present and discuss examples of the following lessons from this decision-theoretic view of nonmonotonic reasoning: (1) decision theory and nonmonotonic logics are intended to solve different components of the planning problem; (2) when considered in the context of planning under uncertainty, nonmonotonic logics do not retain the domain-independent characteristics of classical (monotonic) logic; and (3) because certain nonmonotonic programming paradigms (for example, frame-based inheritance, nonmonotonic logics) are inherently problem specific, they might be inappropriate for use in solving certain types of planning problems. We discuss how these conclusions affect several current AI research issues.