Uncertain Decisions

1. Front Matter

   Pages i-xxxi

   PDF

2. Non-expected Utility Theory

   1. Front Matter

      Pages 1-1

      PDF

   2. Risk and Uncertainty Aversion with Reference to the Theories Of Expected Utility, Rank Dependent Expected Utility, and Choquet Expected Utility.

      • Aldo Montesano

      Pages 3-37

   3. Dynamic Consistency and Non-Expected Utility

      • Uzi Segal

      Pages 39-52

   4. Ambiguity-Aversion and Non-Additive Probability:

      • Colin Camerer

      Pages 53-79

3. Non-expected Utility Applications

   1. Front Matter

      Pages 81-81

      PDF

   2. Consumption, Savings and Asset Returns with Non-Expected Utility

      • Larry G. Epstein

      Pages 83-107

   3. Estimating (Risk) Preference Functionals Using Experimental Methods

      • John D. Hey

      Pages 109-128

   4. Randomisation, Mixed Strategies and the Reduction Axiom

      • Michele Bernasconi

      Pages 129-146

   5. Experimental Studies Of Signaling Games

      • Frans van Winden

      Pages 147-173

   6. Independence Between Events with Non-Additive Probability

      • Nicola Dimitri

      Pages 175-181

4. New Departures from Classical Decision Theory

   1. Front Matter

      Pages 183-183

      PDF

   2. Fuzzy Decision Theory

      • Antoine Billot

      Pages 185-213

   3. An Overview of Case-Based Decision Theory

      • Itzhak Gilboa, David Schmeidler

      Pages 215-235

   4. The Recent Advances in Decision Theory Under Uncertainty

      • Alessandro Vercelli

      Pages 237-260

5. Value to Real World: the Experimental Contribution

   1. Front Matter

      Pages 261-261

      PDF

   2. Decision Theory and Real Decisions:

      • Kenneth R. MacCrimmon

      Pages 263-291

   3. Policy and the use of Laboratory Experimental Methodology in Economics

      • Charles R. Plott

      Pages 293-317

   4. Buyer and Seller Effect Disentangled

      • Claudio Borelli, Alessandro Innocenti, Luigi Luini

      Pages 319-341

6. Back Matter

   Pages 343-351

   PDF

Uncertain Decisions: Bridging Theory and Experiments presents advanced directions of thinking on decision theory - in particular the more recent contributions on non-expected utility theory, fuzzy decision theory and case-based theory. This work also provides theoretical insights on measures of risk aversion and on new problems for general equilibrium analysis. It analyzes how the thinking that underlies the theories described above spills over into real decisions, and how the thinking that underlies these real decisions can explain the discrepancies between theoretical approaches and actual behavior. This work elaborates on how the most recent laboratory experiments have become an important source both for evaluating the leading theory of choice and decision, and for contributing to the formation of new models regarding the subject.

• decision theory
• economics
• equilibrium
• general equilibrium
• strategy
• utility
• utility theory

• University of Siena, Italy

  Luigi Luini

Policies and ethics