Models and Experiments in Risk and Rationality presents original contributions to the areas of individual choice …, experimental economics, operations and analysis, multiple criteria decision making, market uncertainty, game theory and social …

We challenge the standard definition of economic rationality as consistency by making use of a novel distinction … between axioms of decision theory: consistency and preference axioms. We argue that this distinction has been overlooked by … incorrect identification strategies. We conduct an experiment to investigate the factors that drive violations of consistency …

theory of ecological rationality. The main casualty of this rebuilding process is optimality. Once we view optimality as a …If we reassess the rationality question under the assumption that the uncertainty of the natural world is largely … formal implication of quantified uncertainty rather than an ecologically meaningful objective, the rationality question …