behavioural models suggested by psychology (i.e., weighted probabilities applied to regret and rejoice theory), and by updating …

This chapter provides a critical review of the theories of decision making under risk and under uncertainty and the …

The threshold approach to medical decision-making, in which treatment decisions are made based on whether the …) and (Pauker and Kassirer, N Engl J Med 302:1109-1116, 1980). This study generalizes the threshold approach using regret … theory. Regret theory is one of the established alternatives to expected utility theory (EUT), and partly overcomes the …

(subjective) probabilities weight multiplicatively the utilities of the alternatives offered to the decision maker, although … evidence suggest that probability weights and utilities are often not separable in the mind of the decision maker. In this … context, we introduce a simple and efficient framework on how to describe the inherently probabilistic human decision …

We propose a class of multiple-prior representations of preferences under ambiguity where the belief the decision …

Many decision situations involve two or more of the following divergences from subjective expected utility: imprecision …