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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.

Decision making. --- Quality of life. --- Risk management. --- Uncertainty. --- Business & Economics --- Social Sciences --- Mathematics --- Physical Sciences & Mathematics --- Mathematical Statistics --- Economic Theory --- Psychology --- Operations research. --- Game theory. --- Economic theory. --- Economics. --- Economic Theory/Quantitative Economics/Mathematical Methods. --- Game Theory, Economics, Social and Behav. Sciences. --- Operation Research/Decision Theory. --- Mathematics. --- Operations Research/Decision Theory. --- Math --- Science --- Economic theory --- Political economy --- Social sciences --- Economic man --- Operational analysis --- Operational research --- Industrial engineering --- Management science --- Research --- System theory --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management --- Management decisions --- Choice (Psychology) --- Problem solving --- Games, Theory of --- Theory of games --- Mathematical models --- Decision making

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We all feel that our world is fundamentally uncertain. But less unanimity emerges as to what we mean by "uncertainty" and how we ought to adjust. Businessmen tend to be "cautious" and engineers to pick up the "right" decision criteria among the many available in the literature, without having much justification about their respective behaviors. This book tries to sort out the different meanings of uncertainty and to discover their foundations. It shows that uncertainty can be represented using various tools and mental guidelines. Some decision criteria are then related to each case and assessed. Alternative ways to deal with risk - and risk attitude concepts - are then examined in the above perspective. Behavior under uncertainty emerges from this book as something to base more on inquiry and reflection than on mere intuition.

Uncertainty. --- Risk-taking (Psychology) --- Decision making. --- Operations research. --- Game theory. --- Economic theory. --- Economics. --- Economic Theory/Quantitative Economics/Mathematical Methods. --- Game Theory, Economics, Social and Behav. Sciences. --- Operation Research/Decision Theory. --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management --- Management decisions --- Choice (Psychology) --- Problem solving --- Economic theory --- Political economy --- Social sciences --- Economic man --- Games, Theory of --- Theory of games --- Mathematical models --- Mathematics --- Operational analysis --- Operational research --- Industrial engineering --- Management science --- Research --- System theory --- Decision making --- Risk behavior --- Risky behavior --- Taking risks --- Human behavior --- Reasoning --- Mathematics. --- Operations Research/Decision Theory. --- Math --- Science --- Uncertainty

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• Reference Manager
• EndNote
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Economic schools --- Operational research. Game theory --- economisch denken --- speltheorie --- operationeel onderzoek

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

We all feel that our world is fundamentally uncertain. But less unanimity emerges as to what we mean by "uncertainty" and how we ought to adjust. Businessmen tend to be "cautious" and engineers to pick up the "right" decision criteria among the many available in the literature, without having much justification about their respective behaviors. This book tries to sort out the different meanings of uncertainty and to discover their foundations. It shows that uncertainty can be represented using various tools and mental guidelines. Some decision criteria are then related to each case and assessed. Alternative ways to deal with risk - and risk attitude concepts - are then examined in the above perspective. Behavior under uncertainty emerges from this book as something to base more on inquiry and reflection than on mere intuition.

Economic schools --- Operational research. Game theory --- economisch denken --- speltheorie --- operationeel onderzoek