Shackle was one of the representative critics of probability calculus. His alternative decision theory was … interpretation of Shacklean theory by focusing on the common stage structure of the decision-making. This paper shows that the … different formal structure, and to provide a new interpretation of Shacklean decision theory. …

best fit to the data under the Expected Utility Theory (EUT), and the Decision Field Theory delivers the best fit under the … function of ad hoc measures of task complexity. The first two stochastic models are Contextual Utility and the Decision Field … Theory. We introduce an alternative specification borrowed from the consumer behaviour literature and built upon the Entropy …

the decision theory, into the legal understanding starting from the definition of Knightian risk and uncertainty as well … particular decision-oriented definition of uncertainty versus risk is proposed that aims specifically at the legal context. Based …The legal system encounters many problems in facing uncertainty. Neither does a particular theory exist of how to …

If a decision maker, in a world of uncertainty a la Anscombe and Aumann (1963), can choose acts according to some … any decision problem (or set of decision problems), for any preference relation that satisfies the Axiom EUOL, and for any …

to misspecification, and ultimately leads to post-decision disappointment. Using statistical decision theory, we develop … the model’s implications for optimal decision-making. This practice ignores model ambiguity, exposes the decision problem … a framework to explore, evaluate, and optimize robust decision rules that explicitly account for estimation uncertainty …

all decision theorists agree that values and beliefs jointly influence willingness to act under uncertainty. However …. Our purpose in this chapter is to bring into sharper focus the role of values and beliefs in decision under uncertainty …

In many decisions, we are not only uncertain about the predicted outcomes of decision alternatives but also about … or in standard utility theory. Based on the expected expected utility (EEU) concept, we consider uncertain predictions … environmental decision problems and we apply it to a hypothetical multi-criteria decision regarding coral reef management with …