Risk, Decision and Rationality

Front Matter....Pages i-x
A Guide to Decision-Making Under Uncertainty....Pages 1-34
Front Matter....Pages 35-35
Different Experimental Procedures for Obtaining Valuations of Risky Actions: Implications for Utility Theory....Pages 37-57
Investigating Utility and Value Functions with an “Assessment Cube”....Pages 59-75
Evaluation Questions and Income Utility....Pages 77-96
Cardinal Utility: An Empirical Test....Pages 97-102
A Note on the Relationships between Utility and Value Functions....Pages 103-114
Expected Utility Theory without Continuous Preferences....Pages 115-126
Assessing other People’s Utilities....Pages 127-138
A Comment on J. Harsanyi’s “Assessing other People’s Utilities”....Pages 139-144
Front Matter....Pages 145-145
Experimental Investigations into Economic Behaviour under Uncertainty....Pages 147-162
“Preference Reversals” and the Theory of Decision Making under Risk....Pages 163-172
Preponderence of the Certainty Effect Over Probability Distortion in Decision Making Under Risk....Pages 173-187
A Model of the Influence of Certainty and Probability “Effects” on the Measurement of Utility....Pages 189-205
Front Matter....Pages 207-207
Expected Utility Theory and Ordinalism. A Political Marriage....Pages 209-220
The Bayesian Approach: Irreconcilable with Expected Utility Theory?....Pages 221-230
The General Theory of Random Choices in Relation to the Invariant Cardinal Utility Function and the Specific Probability Function. The (U, θ) Model A General Overview....Pages 231-289
A Large Scale Empirical Test for the Linearized Moments Model (LMM): Compatibility between Theory and Observation....Pages 291-311
An Axiomatic Model of Choice under Risk which is Compatible with the Certainty Effect....Pages 313-325
Decision Making Under Ambiguity: A Note....Pages 327-336
Front Matter....Pages 337-337
Cardinal Properties of “Local Utility Functions”....Pages 339-344
Front Matter....Pages 337-337
A New Neo-Bernoullian Theory: The Machina Theory A Critical Analysis....Pages 345-403
Economics as Psychology: A Cognitive Assay of the French and American Schools of Risk Theory....Pages 405-416
Front Matter....Pages 417-417
A Generalisation of Rational Behaviour....Pages 419-434
Infinite Regressions in the Optimizing Theory of Decision....Pages 435-457
Rational Behaviour and Adaptation....Pages 459-481
Metatickles, Ratificationism, and Newcomb-Like Problems without Dominance....Pages 483-501
Consequentialism and the Independence Axiom....Pages 503-516
Dynamic Choice and Rationality....Pages 517-536
World Bayesianism: Comments on the Hammond/McClennen Debate....Pages 537-542
Front Matter....Pages 543-543
Probability in Quantum Mechanics and in Utility Theory....Pages 545-556
Some Remarkable Properties of the Determination of a Bounded Continuous Distribution by its Moments....Pages 557-561
On σ-Additive Priors, σ-coherence, and the Existence of Posteriors....Pages 563-574
A New Dichotomization for Uncertainty Models....Pages 575-593
Risk and Flexibility in Microeconomic Production Theory: Principles, and Application to Energy-Saving Investments....Pages 595-600
Possibility Theory: Searching for Normative Foundations....Pages 601-614
Uncertainty Aversion and Risk Aversion in Models with Nonadditive Probabilities....Pages 615-627
A Generalized Measure of Risk Aversion, Without the Independence Axiom....Pages 629-637
Front Matter....Pages 639-639
The Income-Replacement Ratio: An Insurance Theory Approach....Pages 641-656
Industrial Practice of Decision Theory....Pages 657-677
The Expected Utility Applied to Reinsurance....Pages 679-689
Back Matter....Pages 691-707