Prospect Theory: For Risk and Ambiguity - Softcover

Wakker, Peter P.

Softcover

ISBN 10: 0521748682 ISBN 13: 9780521748681

Publisher: Cambridge University Press, 2010

Synopsis

Prospect Theory: For Risk and Ambiguity, provides a comprehensive and accessible textbook treatment of the way decisions are made both when we have the statistical probabilities associated with uncertain future events (risk) and when we lack them (ambiguity). The book presents models, primarily prospect theory, that are both tractable and psychologically realistic. A method of presentation is chosen that makes the empirical meaning of each theoretical model completely transparent. Prospect theory has many applications in a wide variety of disciplines. The material in the book has been carefully organized to allow readers to select pathways through the book relevant to their own interests. With numerous exercises and worked examples, the book is ideally suited to the needs of students taking courses in decision theory in economics, mathematics, finance, psychology, management science, health, computer science, Bayesian statistics, and engineering.

About this title

About the Author

Peter P. Wakker is Professor at the Econometric Institute, Erasmus Universiteit, Rotterdam. His work concerns human decisions under risk and uncertainty from an economic, mathematical and psychological perspective.

Edition details

• Publisher: Cambridge University Press
• Publication date: 2010
• Language: English
• ISBN 10: 0521748682
• ISBN 13: 9780521748681
• Binding: Paperback
• Number of pages: 518