The book is divided into five parts. The essence of behavioural finance is presented in the first parts. Fuzzy generalizations of some mathematical concepts are presented in the second part. The impact of selected behavioural premises for imprecise estimation of expected return is described in...

The principle of uncertain future: the probability of a future event contains an (hidden) uncertainty. The first consequence of the principle: the real values of high probabilities are lower than the preliminarily determined ones; conversely, the real values of low probabilities can be higher...

The article raises the question of possible existence of ruptures, gaps in the probability scale which are caused by noises, uncertainties. A hypothesis of existence of such ruptures may be used to solve a number of problems of, e.g., utility theory in economics. The calculations give the...

Abstract Popular models for decision making under ambiguity assume that people use not one but multiple priors. This paper is a first attempt to experimentally elicit multiple priors. In an ambiguous scenario with two underlying states we measure a subject’s single prior, her other potential...

Physical resources such as land, labour and livestock, and nonphysical resources such as indigenous knowledge and institutions of producers in the grain surplus and deficit regions of the Central Highlands of Ethiopia are examined under situation of environmental and policy risks. Frequency...

Purpose. To analyze the potential of selected social media tool – the youtube channel – in supporting knowledge transfer and diffusion from institutions that form tourism business environment to tourism enterprises. Method. The analysis was based on a case study of the Irish National Tourism...

The ''hot stove effect'' has been studied for repeated-play decision making under uncertainty (also referred to as experience-based decision making) in which the decision makers repeatedly face the Allais-type binary choice problems, and have to learn about the outcome distributions through...

Land, labor, indigenous knowledge and institutional resources of producers in the Central Highlands of Ethiopia are investigated. Frequency distribution and comparative statistical analysis of the two regions with respect to these and other parameters suggest that in a situation where all...