Title: Models and experiments in risk and rationality. (Theory and decision library; Series B . Mathematical and statistical methods; v. 29). Ex-Library.
Publisher: Kluwer Academic Publishers, Dordrecht, &c.
Publication Date: 1994
Language: English
ISBN 10: 0792330315
ISBN 13: 9780792330318
Binding: Hardcover
Condition: Good
Dust Jacket Condition: No Dust Jacket

About this title

Synopsis

Models and Experiments in Risk and Rationality presents original contributions to the areas of individual choice, experimental economics, operations and analysis, multiple criteria decision making, market uncertainty, game theory and social choice. The papers, which were presented at the FUR VI conference, are arranged to appear in order of increasing complexity of the decision environment or social context in which they situate themselves.
The first section `Psychological Aspects of Risk-Bearing', considers choice at the purely individual level and for the most part, free of any specific economic or social context. The second section examines individual choice within the classical expected utility approach while the third section works from a perspective that includes non-expected utility preferences over lotteries. Section four, `Multiple Criteria Decision-Making Under Uncertainty', considers the more specialized but crucial context of uncertain choice involving tradeoffs between competing criteria -- a field which is becoming of increasing importance in applied decision analysis. The final two sections examine uncertain choice in social or group contexts.

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