Foundations of Utility and Risk Theory with Applications

Opening Address.- Paradoxes and Their Solutions.- Behavior Under Uncertainty and Its Implications for Policy.- Frequency, Probability and Chance.- Utility Analysis from the Point of View of Model Building.- On Second Order Probabilities and the Notion of Epistemic Risk.- Expected Utility Theory Does Not Apply to All Rational Men.- Sure-Thing Doubts.- The Pre-Outcome Period and the Utility of Gambling.- Empirical Demonst:ation that Expected Utility Decision Analysis is Not Operational.- Risk Attitude Hypotheses of Utility Theory.- Probabilistic Forecasts: Some Results and Speculations.- The Supra-Additivity of Subjective Probability.- A Decision Analysis Model When the Substitution Principle is Not Acceptable.- Generalized Expected Utility Analysis and the Nature of Observed Violations of the Independence Axiom.- Use of Subjective Probabilities in Game Theory.- Bargaining and Rationality: A Discussion of Zeuthen'as Principle and Some Other Decision Rules.- Hotelling Utility Functions.- Cardinal Utility and Decision Making Under Uncertainty.- Decision Making with an Uncertain Utility Function.- Welfare Losses Arising from Increased Public Information, and/or the Opening of New Securities Markets: Examples of the General Theory of the Second Best.- Decision Making in Dynamic Environments.- The Economics of Organizational Design.- Indifference Spanning Analysis.- Evaluation of Oil Spill Combat Plans by Means of Multi-Criteria Decision Analysis.- Name Index.