Prospect Theory: For Risk and Ambiguity
| Author | : | |
| Rating | : | 4.53 (531 Votes) |
| Asin | : | 0521748682 |
| Format Type | : | paperback |
| Number of Pages | : | 518 Pages |
| Publish Date | : | 2015-09-01 |
| Language | : | English |
DESCRIPTION:
"High brow but rewarding" according to Ach. This is a comprehensive 'state of the art' book on prospect theory. It presumes mathematical knowledge, and asks quite some energy to understand the theoretical notions, but is rewarding after investmentt.. Five Stars Excellent book!! Very clear!! Although the notation is a little bit confusing.
Wakker is a leader both on the theoretical underpinnings of decision theory and in applying decision theory to practice; he also has an encyclopaedic knowledge of the field. Scholars who have lived with this material for years will still find much that is new." - Drazen Prelec, Massachusetts Institute of Technology"The need for realistic models of economic decisions involving risk and uncertainty, with plausible behavioral foundations, has never been more acute. Halpern, Cornell University"This masterful survey of major theories of choice and of their implications for measurement represents two decades of research and teaching by a flawless perfectionist. Peter Wakker provides an intuitive and accessible, but rigorous, treat
Prospect theory has many applications in a wide variety of disciplines. Prospect Theory: For Risk and Ambiguity provides the first comprehensive and accessible textbook treatment of the way decisions are made both when we have the statistical probabilities associated with uncertain future events (risk) and when we lack them (ambiguity). The material in the book has been carefully organized to allow readers to select pathways through the book relevant to their own interests. A method of presentati
. Peter P. Wakker is Professor at the Econometric Institute, Erasmus Universiteit, Rotterdam. His work concerns human decisions under risk and uncertainty from an economic, mathematical and psychological perspective