Models and Experiments in Risk and Rationality

Mark J. Machina

ISBN 10: 0792330315 / ISBN 13: 9780792330318

Published by Springer Netherlands, Springer Netherlands Okt 1994, 1994

About this Item

This item is printed on demand - it takes 3-4 days longer - Neuware -Models and Experiments in Risk and Rationality presents original contributions to the areas of individual choice, experimental economics, operations and analysis, multiple criteria decision making, market uncertainty, game theory and social choice. The papers, which were presented at the FUR VI conference, are arranged to appear in order of increasing complexity of the decision environment or social context in which they situate themselves. The first section `Psychological Aspects of Risk-Bearing', considers choice at the purely individual level and for the most part, free of any specific economic or social context. The second section examines individual choice within the classical expected utility approach while the third section works from a perspective that includes non-expected utility preferences over lotteries. Section four, `Multiple Criteria Decision-Making Under Uncertainty', considers the more specialized but crucial context of uncertain choice involving tradeoffs between competing criteria -- a field which is becoming of increasing importance in applied decision analysis. The final two sections examine uncertain choice in social or group contexts. 456 pp. Englisch.

Seller Inventory # 9780792330318

Bibliographic Details

• Title: Models and Experiments in Risk and Rationality
• Publisher: Springer Netherlands, Springer Netherlands Okt 1994
• Publication Date: 1994
• Language: English
• ISBN 10: 0792330315
• ISBN 13: 9780792330318
• Binding: Buch
• Condition: Neu

About this title

Synopsis

Models and Experiments in Risk and Rationality presents original contributions to the areas of individual choice, experimental economics, operations and analysis, multiple criteria decision making, market uncertainty, game theory and social choice. The papers, which were presented at the FUR VI conference, are arranged to appear in order of increasing complexity of the decision environment or social context in which they situate themselves.
The first section `Psychological Aspects of Risk-Bearing', considers choice at the purely individual level and for the most part, free of any specific economic or social context. The second section examines individual choice within the classical expected utility approach while the third section works from a perspective that includes non-expected utility preferences over lotteries. Section four, `Multiple Criteria Decision-Making Under Uncertainty', considers the more specialized but crucial context of uncertain choice involving tradeoffs between competing criteria -- a field which is becoming of increasing importance in applied decision analysis. The final two sections examine uncertain choice in social or group contexts.

Synopsis

This text presents original contributions to the areas of individual choice, experimental economics, operations and analysis, multiple-criteria decision-making, market uncertainty, game theory and social choice. The papers, which were presented at the FUR VI conference, are arranged to appear in order of increasing complexity of the decision environment or social context in which they situate themselves. The first section, "Psychological Aspects of Risk-Bearing", considers choice at the purely individual level and, for the most part, free of any specific economic or social context. The second section examines individual choice within the classical expected utility approach, while the third section works from a perspective that includes non-expected utility preferences over lotteries. Section Four, "Multiple Criteria Decision-Making Under Uncertainty", considers the more specialized, but crucial, context of uncertain choice involving tradeoffs between competing criteria - a field which is becoming of increasing importance in applied decision analysis. The final two sections examine uncertain choice in social or group contexts.