Uncertain Decisions: Bridging Theory and Experiments

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Presenting advanced directions of thinking on decision theory, in particular the more recent contributions on non-expected utility theory, this book concentrates on fuzzy decision and case-based theories. This work also provides theoretical insights on measures of risk aversion and on new problems for general equilibrium analysis. It analyzes how the thinking that underlies the theories described above spills over into real decisions, and how the thinking that underlies these real decisions can explain the discrepancies between theoretical approaches and actual behaviour. This work elaborates on how the most recent laboratory experiments have become an important source both for evaluating the leading theory of choice and decision, and for contributing to the formation of new models regarding the subject.