temptations and pitfalls of model-land, some directions towards the exit, and two ways to escape. Their aim is to improve decision …

So far, "salience theory of choice under risk" has been mainly applied to situations of risk rather than to those of … uncertainty. In this paper, we show that salience theory provides the prediction that Allais paradoxes should never occur in the …

We assess the ability of different risk profiling measures to predict risk taking along a multi-stage decision process …-assessed risk tolerance measures are not suitable for predicting risk taking in any stage of the decision process. Among the …. The latter involves decisions under ambiguity, decisions under risk, decisions after gaining experience and decisions …

, we analyze the individual's risk preferences in relation to gaining or losing rank, rather than the individual's risk …-ranked individual is more willing than a low-ranked individual to take risks that can provide him with a rise in rank: relative risk …

We propose a simple model of decision making under risk inspired by the "half-full, half-empty" glass metaphor. The …

effect on any risk averse agent's decision variable. We then apply the two stochastic orders to some classic decision … of payoff functions, which nest most models in the literature as special cases, such that a risk change satisfies one of … problems in economics and finance including a portfolio problem, two insurance problems, and four management decision problems …

introduced. Finally, our results show that the estimation of risk parameter under Expected Utility Theory is robust across … alternative stochastic models, whereas the risk parameters estimation under Rank Dependent Utility Theory exhibits some …

Both economists and psychologists are interested in understanding decision making under uncertainty. Yet, they rely on … different concepts to analyse human behaviour: Economists use economic preference parameters rooted in utility theory, while …