Karni, Edi; Maccheroni, Fabio; Marinacci, Massimo - In: Handbook of game theory with economic applications : …, (pp. 901-947). 2015
This chapter reviews developments in the theory of decision making under risk and uncertainty, focusing on models that … first part reviews models of decision making under risk that depart from the independence axiom, focusing on the rank …-dependent utility models and cumulative prospect theory. The second part reviews theories of decision making under uncertainty that …