findings suggest that Lehmann's ranking can be a useful enrichment of Blackwell's ranking for monotone decision problems even … if ambiguity is present. We apply our results to social aggregation of information preferences and investment decision …

We empirically compare the consistency among several measures of risk-taking and patience by evaluating how these … tentatively conclude that relatively low-cost elicitation measures can be used to predict individual decision-making. Accounting …

This paper introduces a model of decision making under ambiguity by extending the Bayesian approach to uncertain … defined as attitude toward mean-preserving spreads in probabilities---analogous to the Rothschild-Stiglitz risk attitude … toward mean-preserving spreads in outcomes. The model refines the separations between tastes and beliefs, and between risk …

requirement of rich expertise in financial risk. Compared with other black-box algorithms, the explainable CBR system allows a … predicting financial risk, which is essential for both financial companies and their customers. In addition, results show that …

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

theory of ecological rationality. The main casualty of this rebuilding process is optimality. Once we view optimality as a …

We review some of the (theoretical) economic implications of David Schmeidler's models of decision under uncertainty … equilibrium implications (indeterminacies, non revelation of information) of these decision models. A section is then devoted to …

This paper extends decision making under risk and uncertainty to group theory via representations of invariant … in decision theory. Moreover, representations include the special unitary group SU(2) and orthogonal group Θ …-Pauli Hamiltonian to compute, inter alia, time dependent probabilities in decision field theory …

We consider a standard one-agent decision-making problem under risk and we address the following question: under what … conditions is utility maximization equivalent to 'risk' minimization, where the measure of risk used by the decision-maker is a … conservative coherent risk measure? …

This paper presents a new decision theory for modelling choice under risk. The new theory is a two …-parameter generalization of expected utility theory. The proposed theory assumes that a decision maker: 1) behaves as if maximizing expected … lotteries). The proposed theory can rationalize the fourfold pattern of risk attitudes; the common ratio effect and the reverse …