In the realm of pool construction, the selection of a proficient builder plays a paramount role in transmuting your backyard into a spectacular oasis. The intricacies of the process mirror that of hiring a craftsman in the Renaissance era. Such an effort required meticulous consideration, a profound understanding of the work, and an evaluation of the artist's previous masterpieces. Similarly, the construction of your dream pool is a project of significant financial and aesthetic magnitude, and thus should not be taken lightly.

Let's dive into the dynamic and enduring world of pool-building, bridging the gap between the theoretical constructs of decision theory and the practical realms of construction.

Economics and decision theory offer a framework for understanding the decision-making process. The first step in the process of hiring a pool builder involves establishing your utility function, a concept used in economics to express a person's preference ordering over a set of alternatives. In this context, the 'alternatives' are the pool builders, and the utility function is based on factors such as cost, reputation, experience, and style. Analyzing these factors and assigning them weights based on your personal preferences sets the stage for an informed decision-making process.

Let's consider the first variable: Cost. While it may be tempting to opt for the most economical option, it's vital to remember the timeless principle of cost-benefit analysis, where choosing a builder with a higher upfront cost may result in superior quality and fewer maintenance issues down the line. It's a demonstration of the economic theory of 'Pareto efficiency', where any change to improve one factor (cost) without worsening others (quality, maintenance) is considered beneficial.

The second factor is the builder's reputation. How well-regarded are they in the industry? This can be investigated through online reviews, testimonials, and personal recommendations. A well-regarded builder is likely to offer better service and quality, based on their past performance.

Experience, our third factor, should not be overlooked. An experienced builder has likely encountered a variety of challenges and situations, equipping them with the capability to handle unexpected obstacles. Additionally, familiarity with local regulations and codes is crucial to ensure your pool construction is up to legal standards.

The final factor, style, reflects your personal taste. Each builder might have a unique design philosophy and preferred materials. It's essential to select a builder who aligns with your aesthetic preferences.

The process of hiring a pool builder thus involves a complex interplay between decision theory, economics, and personal preferences. It's a fascinating example of how theoretical principles play out in real-world scenarios.

However, the process doesn't end with making a decision. The legal implications of hiring a builder must also be considered. It's crucial to have a comprehensive understanding of the contract, ensuring it includes details about schedule, payment terms, and warranty.

Moreover, the principle of ‘caveat emptor’ - let the buyer beware - applies here. While builders are obligated to deliver on their promises, the onus is on the client to ensure all agreed-upon terms are met.

In the grand scheme of things, the process of hiring a pool builder is akin to a carefully calculated dance, balancing cost with quality, experience with innovation, and personal preferences with industry standards. It's an exercise in optimization, a testament to the elegance of decision theory, the pragmatism of economics, and the beauty of personal choice.

In conclusion, hiring the right pool builder is not merely a question of who can get the job done, but rather, who can illuminate your backyard with the pool of your dreams. It's about harnessing the power of decision theory, the wisdom of economics, and the nuances of law to create something truly remarkable: your dream backyard oasis.