Beliefs, Interactions and Preferences in Decision Making mixes a selection of papers, presented at the Eighth Foundations and Applications of Utility and Risk Theory (`FUR VIII') conference in Mons, Belgium, together with a few solicited papers from well-known authors in the field. This book...

Most of the writings of Maurice Allais, 1988 Nobel Laureate in Economics have only been published in French. Thus to date, economists, management scientists and operations researchers have been severely restricted in gaining access to his work. Markets, Risk and Money presents, for the first...

A Guide to Decision-Making Under Uncertainty -- I / Concepts and Experiments in Utility Evaluation -- Different Experimental Procedures for Obtaining Valuations of Risky Actions: Implications for Utility Theory -- Investigating Utility and Value Functions with an “Assessment Cube” --...

Overview -- Introductory Chapter -- Problems in Behavior under Risk : Individual vs. Group Decision Making -- I / Multicriteria Decision Making and Social Choice -- Risky Buying of Huge Quantities Under Time Pressure and Partial Information -- Main Sources of Inaccurate Determination,...

"The essential work from the Nobel Prize-winning virtuoso of twentieth-century economics, translated to English for the first time. Since Adam Smith developed a verbal theory of how the economy worked, economists have used mathematical equations to try to model such terms. Few figures advanced...

The 1980s and 1990s have been a period of exciting new developments in the modelling of decision-making under risk and uncertainty. Extensions of the theory of expected utility and alternative theories of `non-expected utility' have been devised to explain many puzzles and paradoxes of...

Detailed surveys examine risk and uncertainty, from classical and foundational work through current developments. Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance

This book tries to sort out the different meanings of uncertainty and to discover their foundations. It shows that uncertainty can be represented using various tools and mental guidelines. Coverage also examines alternative ways to deal with risk and risk attitude concepts. Behavior under...