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Book synopsis

Until recently, "Subjective Expected Utility Theory" was accepted within the economics profession as the theory of rational decision-making under risk and under certainty. However, its pre-eminence in recent years has been undermined as a consequence of a flood of experimental evidence casting doubt on its descriptive accuracy. This work documents the theoretical reconstruction of the theory of decision-making in the aftermath of this flood. It contains papers introducing and describing new theories of decision under risk, theories of decision under uncertainty and theories of dynamic decision-making.

Book details

Book category Books in English Economics, finance, business & management Business & management Management & management techniques

• Full title: Economics of Uncertainty
• Language: English
• Binding: Hardback
• Number of pages: 1204
• EAN: 9781858982779
• ID: 05118328
• Publisher: Edward Elgar Publishing Ltd
• Weight: 2302 g
• Dimensions: 244 × 169 × 94 mm
• Date of publishing: 06. March 1997

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