consequences. By properly assessing the outcomes involved - especially those concerning human life - economic theory of choice … under uncertainty is expected to help people take the best decision. However, the widely used expected utility theory values …

consequences. By properly assessing the outcomes involved – especially those concerning human life – economic theory of choice … under uncertainty is expected to help people take the best decision. However, the widely used expected utility theory values …

As in any research field, risk theory has its important questions, results, and paradoxes, as well as its seminal … papers and key authors. Louis Eeckhoudt has been a key author in the field of risk theory. To celebrate his many … contributions to the literature, and provides some illustrations of the remarkable research saga in risk theory over the last 50 …

The economic theory of decision making under risk has seen remarkable advances over the 50 years since Pratt’s (1964 …

experimental data. We investigate if there is a risky choice theory that fits group decisions better than alternative theories, and … individuals as well as by small groups. However, in the group experiment, alternatives (and, most notably, disappoint aversion …

experiential feedback on choice outcomes are provided. The relevance of Regret Theory in travel behavior has been well demonstrated …-choice experiment involving different levels of travel time variability, discrete-choice models accounting for regret aversion effects …