Advances in Decision Making Under Risk and Uncertainty

• Corporate Author: SpringerLink (Online service)
• Other Authors: Abdellaoui, Mohammed (Editor), Hey, John D. (Editor)
• Format: Electronic eBook
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg, 2008.
• Series: Theory and Decision Library, Series C: Game Theory, Mathematical Programming and Operations Research, 42
• Subjects: Operations research.; Decision making.; Game theory.; Economic theory.; Economics.; Economic Theory/Quantitative Economics/Mathematical Methods.; Game Theory, Economics, Social and Behav. Sciences.; Operation Research/Decision Theory.
• Physical Description: XIV, 242 p. 57 illus. online resource.
• ISBN: 9783540684374
• ISSN: 0924-6126 ;

Whether we like it or not we all feel that the world is uncertain. From choosing a new technology to selecting a job, we rarely know in advance what outcome will result from our decisions. Unfortunately, the standard theory of choice under uncertainty developed in the early forties and fifties turns out to be too rigid to take many tricky issues of choice under uncertainty into account. The good news is that we have now moved away from the early descriptively inadequate modeling of behavior. This book brings the reader into contact with the accomplished progress in individual decision making through the most recent contributions to uncertainty modeling and behavioral decision making. It also introduces the reader into the many subtle issues to be resolved for rational choice under uncertainty.