This paper extends decision making under risk and uncertainty to group theory via representations of invariant … in decision theory. Moreover, representations include the special unitary group SU(2) and orthogonal group Θ …-Pauli Hamiltonian to compute, inter alia, time dependent probabilities in decision field theory …

weak preference ordering. For choice under risk (resp. uncertainty), preferences are assumed to be represented by the … objectively (resp. subjectively) expected value of a von Neumann-Morgenstern utility function. For choice under risk, this implies … concerning behavior in decision trees. Following Cubitt (1996) , these principles include dynamic consistency, separability, and …

In prosocial decisions, decision-makers face interpersonal uncertainty - uncertainty about how their choices impact …

In this paper we offer an alternative framework for examining why risk matters in the decisions of economic agents, and … how the agent’s risk attitude affects his decisions. This “Threshold Theory” framework is based on a real options approach … influence the agent’s risk attitude. The theory’s predictions help to explain many anomalies that the standard expected utility …

risk of extreme climate conditions. However, being confronted with inaccurate forecast systems may undermine individuals …

This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the … interdependence of individual risk attitudes and social preferences in form of inequality aversion as two decisive behavioral … determinants in such contexts. Our model and the data demonstrate that individual risk aversion is attenuated when lagging behind …

This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the … interdependence of individual risk attitudes and social preferences in the form of inequality aversion as two decisive behavioral … determinants in such contexts. Our model and the data demonstrate that individual risk aversion is attenuated when lagging behind …

utility under a nonlinear expectation, and show monotonicity and continuity of utility. Risk aversion is characterized, and …