of the socalled neoclassical approach with Herbert Simon’s organizational theory can be considered an important part of …

microeconomic theory of optimal production and check under which assumptions on fixed and/or variable costs solutions may fail to …

This paper discusses the evolution of decision theory after Savage's Foundations. Two developments are examined. First …, it is presented the rationale of Shackle's proposal to abandon probabilistic decision making. Second, it is discussed the …-additive probabilistic decision making. The main outgrowth of the paper is that the similarities between the non-additive approach and …

–weight of the evidence approach to decision making from the A Treatise on Probability, that Keynes integrated into the General … Theory by way of his definition of uncertainty on p.148 in chapter 12 of the General Theory, with the “Heuristics and Biases … (errors)” approach of Kahneman and Tversky. Uncertainty was defined in the General Theory as an inverse function of the weight …

model based in utility theory to determine the likelihood that an asset will generate a return in excess of the risk …

probabilistic approach to decision theory are more important than usually admitted. The paper discusses the grounds on which the … ambiguity surrounding the decision-maker in Ellsberg's urn experiments can be deemed analogous to the uncertainty faced by … the criteria for decision under uncertainty they put forward. The paper establishes a link between Ellsberg's and Shackle …

theory. Specifically, he constructed his own concept of subjective uncertainty called potential surprise to replace …