Prospect Theory: For Risk and Ambiguity

I was an Information Systems professor and was quite interested in studying risk perception - especially the risks spawned by the Internet. I took a Decision Analysis class at MBA level but that course was somewhat informal and left me struggling to wrap my head around different theories of DM under uncertainty later on when I needed them. This text, probably because it derives from Prof. Wakker's class notes, explains concepts remarkably well. Constrained by time, I have jumped to specific chapters/section of the text (esp., Cumulative Prospect Theory, RDU, Ambiguity etc.) and I have a good feeling that I finally understand the models well. I particularly needed his section 11.7 (indexes for ambiguity and references therein, incl. Wakker's mid-point method paper etc.) for my research. I now know I will have to shorten my summer vacation this year to work thru this text.Overall - an outstanding book and a superb presentation of a difficult topic! I recommended this text to a friend of mine who is a Prof in Finance who seemed equally impressed with this book.Thank you Prof. Wakker.

very good and helpful. The price is reasonable.

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.

Excellent book!! Very clear!! Although the notation is a little bit confusing.

Ich habe das Buch für mein Masterstudium in VWL im April 2014 für damals noch 35 Euro erworben.Inhaltlich führt es über eine grundlegende Diskussion von Uncertainty und Risk über Erwartungswert und Erwartungsnutzen an die Prospect Theory heran. Das Level würde ich als anspruchsvoll bezeichnen und das Buch erfordert Grundkenntnisse in Logik und Mathematik. Im Gegenzug bietet es eine exzellente Einführung garniert mit zahlreichen Beispielen und Anwendungsfällen. Herausragend ist außerdem die große Anzahl der Verständnis- und Übungsaufgaben deren Lösungen meist ausreichend ausführlich im Anhang zu finden sind.

A valuable introduction to an emerging area

very good

fast shipping, good quality