Uzhga-Rebrov, Oleg; Grabusts, Peter - In: Risks : open access journal 9 (2021) 4, pp. 1-16
choosing a solution is modeling the decision maker's attitude to risk. The expected utility theory was the first approach that … even more effective approaches to solving this problem. Currently, the most developed theory of choice with respect to … decisions under risk conditions is the cumulative prospect theory. This paper presents the development history of various …