Chapter 14. Choice Under Uncertainty: Empirical Methods and Experimental Results

This chapter is concerned with the empirical exploration and experimental investigation of the numerous theories of decision making under uncertainty proposed in the earlier chapters of this handbook. This chapter begins with static theories of behavior under risk ; then we look at dynamic theories under risk; and finally look at decision making under ambiguity (the theory of which is largely static at this point in time). As we proceed through the chapter we will come across a number of methodological issues concerning the conduct of experiments, and relating to the econometric analysis of the data. These issues will be elaborated further in the concluding subsections of the appropriate sections and in a concluding section at the end of the chapter.