Choice Under Uncertainty: Empirical Methods and Experimental Results

John Denis Hey

doi:10.1016/B978-0-444-53685-3.00014-3

Choice Under Uncertainty: Empirical Methods and Experimental Results

John Denis Hey

Economics

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

This chapter is concerned with the empirical exploration and experimental investigation of the numerous theories of decision-making under uncertainty proposed in the earlier chapters of this handbook. This chapter begins with static theories of behaviour under risk; then we look at dynamic theories under risk; and finally look at decision-making under ambiguity (the theory on which is largely static at this point in time). As we proceed through the chapter we will come across a number of methodological issues concerning the conduct of experiments, and relating to the econometric analysis of the data. These issues will be elaborated further in the concluding sub-sections of the appropriate sections and in a concluding section at the end of the chapter.

Original language	English
Title of host publication	Handbook of the Economics of Risk and Uncertainty
Editors	Mark J Machina, W Kip Viscusi
Place of Publication	Oxford
Publisher	North Holland
Pages	809-850
Number of pages	42
Volume	1
ISBN (Print)	978-0-444-53685-3
DOIs	https://doi.org/10.1016/B978-0-444-53685-3.00014-3
Publication status	Published - 2014

Access to Document

10.1016/B978-0-444-53685-3.00014-3

Cite this

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