“Risk, Ambiguity, and the Savage Axioms.”

Sensitivity of elasticity estimates for OECD health care spending: analysis of a dynamic heterogeneous data field

Roberts, J. (1999) · Health Economics · doi:10.1002/(sici)1099-1050(199908)8:5 · Cited by 134

Behavioral Law and Economics

Jolls, C. (2007) · National Bureau of Economic Research · doi:10.3386/w12879 · Cited by 82

From Choice to Chance? Saving People, Fairness, and Lotteries

Henning, T. (2015) · The Philosophical Review · doi:10.1215/00318108-2842176 · Cited by 78

J. M. Keynes's Theoretical Approach to Decision-making Under Conditions of Risk and Uncertainty

Brady, M. E. (1993) · The British Journal for the Philosophy of Science · doi:10.1093/bjps/44.2.357 · Cited by 79

Toward a Ludic Architecture. The Space of Play and Games

Walz, S. P. (2024) · Figshare · doi:10.1184/r1/6686981 · Cited by 76

Robustness and Ambiguity Aversion in General Equilibrium

Trojani, F., & Vanini, P. (2004) · European Finance Review · doi:10.1023/b:eufi.0000035193.29969.40 · Cited by 78

Robust portfolio choice with stochastic interest rates

Flor, C. R., & Larsen, L. S. (2013) · Annals of Finance · doi:10.1007/s10436-013-0234-5 · Cited by 78

Perception and use of uncertainty in severe weather warnings by emergency services in Germany

Kox, T., Gerhold, L., & Ulbrich, U. (2014) · Atmospheric Research · doi:10.1016/j.atmosres.2014.02.024 · Cited by 90

First‐Order Risk Aversion, Heterogeneity, and Asset Market Outcomes

Chapman, D. A., & Polkovnichenko, V. (2009) · The Journal of Finance · doi:10.1111/j.1540-6261.2009.01482.x · Cited by 68

Insurance demand and social comparison: An experimental analysis

Friedl, A., de Miranda, K. L., & Schmidt, U. (2014) · Journal of Risk and Uncertainty · doi:10.1007/s11166-014-9189-9 · Cited by 78

Multi-stock portfolio optimization under prospect theory

Pirvu, T. A., & Schulze, K. (2012) · Mathematics and Financial Economics · doi:10.1007/s11579-012-0079-0 · Cited by 71

Self-Confirming Equilibrium and Model Uncertainty

Battigalli, P., Cerreia‐Vioglio, S., Maccheroni, F., et al. (2015) · American Economic Review · doi:10.1257/aer.20130930 · Cited by 78

Modeling attitudes towards uncertainty and risk through the use of choquet integral

Chateauneuf, A. (1994) · Annals of Operations Research · doi:10.1007/bf02032158 · Cited by 78

Arbitrage, Rationality, and Equilibrium

Nau, R. F., & McCardle, K. F. (1992) · Springer eBooks · doi:10.1007/978-94-011-2838-4_22 · Cited by 78

SSB utility theory and decision-making under uncertainty

Fishburn, P. C. (1984) · Mathematical Social Sciences · doi:10.1016/0165-4896(84)90100-8 · Cited by 77

Curiosity, Information Gaps, and the Utility of KnowledgePreprint

Golman, R., & Loewenstein, G. F. (2012) · SSRN Electronic Journal · doi:10.2139/ssrn.2149362 · Cited by 81

Computational Markers of Risky Decision-making for Identification of Temporal Windows of Vulnerability to Opioid Use in a Real-world Clinical Setting

Konova, A. B., López-Guzmán, S., Urmanche, A. A., Ross, S., Louie, K., Rotrosen, J., & Glimcher, P. W. (2019) · JAMA Psychiatry · doi:10.1001/jamapsychiatry.2019.4013 · Cited by 76

Life-Cycle Asset Allocation with Ambiguity Aversion and Learning

Peijnenburg, K. (2018) · Journal of Financial and Quantitative Analysis · doi:10.1017/s0022109017001144 · Cited by 76

Re-Examining the Functional Form of the Certainty Effect in Deterrence Theory

Loughran, T. A., Pogarsky, G., Piquero, A. R., & Paternoster, R. (2011) · Justice Quarterly · doi:10.1080/07418825.2011.583931 · Cited by 79

The Cambridge Handbook of Psychology and Economic Behaviour

(2008) · Cambridge University Press eBooks · doi:10.1017/cbo9780511490118 · Cited by 79

The refoundation of the symmetric equilibrium in Schumpeterian growth models

Cozzi, G., Giordani, P. E., & Zamparelli, L. (2007) · Journal of Economic Theory · doi:10.1016/j.jet.2006.10.006 · Cited by 73

Decision making in healthy participants on the Iowa Gambling Task: new insights from an operant approach

Bull, P. N., Tippett, L. J., & Addis, D. R. (2015) · Frontiers in Psychology · doi:10.3389/fpsyg.2015.00391 · Cited by 77

Decision Theoretic Approaches to Experiment Design and External Validity

Banerjee, A., Chassang, S., & Snowberg, E. (2017) · Handbook of economic field experiments · doi:10.1016/bs.hefe.2016.08.005 · Cited by 81

Sex differences in the functional lateralization of emotion and decision making in the human brain

Reber, J., & Tranel, D. (2016) · Journal of Neuroscience Research · doi:10.1002/jnr.23829 · Cited by 78

Index-based weather insurance for developing countries: A review of evidence and a set of propositions for up-scaling

Carter, M., de Janvry, A., Sadoulet, É., et al. (2014) · RePEc: Research Papers in Economics · Cited by 77

Uncertainty as a driver of the youth mental health crisis

Schweizer, S., Lawson, R. P., & Blakemore, S.-J. (2023) · Current Opinion in Psychology · doi:10.1016/j.copsyc.2023.101657 · Cited by 76

Why Uncertainty Matters - Discounting Under Intertemporal Risk Aversion and Ambiguity

Traeger, C. (2012) · Social Science Research Network · doi:10.1007/s00199-014-0800-8 · Cited by 96

Valuing the Risk of Death from Terrorist Attacks

Robinson, L. A., Hammitt, J. K., Aldy, J. E., Krupnick, A., & Baxter, J. (2010) · Journal of Homeland Security and Emergency Management · doi:10.2202/1547-7355.1626 · Cited by 76

Declining inflows and more frequent droughts in the Murray–Darling Basin: climate change, impacts and adaptation*

Adamson, D., Mallawaarachchi, T., & Quiggin, J. C. (2009) · Australian Journal of Agricultural and Resource Economics · doi:10.1111/j.1467-8489.2009.00451.x · Cited by 76

Reduction of compound lotteries with objective probabilities: Theory and evidence

Harrison, G. W., Martí­nez‐Correa, J., & Swarthout, J. T. (2015) · Journal of Economic Behavior & Organization · doi:10.1016/j.jebo.2015.07.012 · Cited by 76

Strength of belief and risk

Sj�ber, L. (1979) · Policy Sciences · doi:10.1007/bf00143836 · Cited by 79

Robust portfolio choice with derivative trading under stochastic volatility

Escobar‐Anel, M., Ferrando, S., & Rubtsov, A. (2015) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2015.08.033 · Cited by 76

Risk, ambiguity, and the exercise of employee stock options

Izhakian, Y., & Yermack, D. (2016) · Journal of Financial Economics · doi:10.1016/j.jfineco.2016.12.006 · Cited by 76

Living with Uncertainty

Grinbaum, A., & Dupuy, J. (2004) · Techné Research in Philosophy and Technology · doi:10.5840/techne2004822 · Cited by 76

Where does subjective expected utility fail descriptively?

Luce, R. D. (1992) · Journal of Risk and Uncertainty · doi:10.1007/bf00208784 · Cited by 76

Model Uncertainty and its Impact on the Pricing of Derivative InstrumentsPreprint

Rama Cont, A. (2004) · SSRN Electronic Journal · doi:10.2139/ssrn.562721 · Cited by 76

Decisions from Experience

Hertwig, R. (2015) · Wiley eBooks · doi:10.1002/9781118468333.ch8 · Cited by 82

A Manager and an AI Walk into a Bar: Does ChatGPT Make Biased Decisions Like We Do?Preprint

Chen, Y., Kirshner, S. N., Ovchinnikov, A. S., et al. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4380365 · Cited by 76

The description-experience gap in risky choice in nonhuman primates

Heilbronner, S. R., & Hayden, B. Y. (2015) · Psychonomic Bulletin & Review · doi:10.3758/s13423-015-0924-2 · Cited by 71

Trust as a decision under ambiguity

Li, C., Turmunkh, U., & Wakker, P. P. (2018) · Experimental Economics · doi:10.1007/s10683-018-9582-3 · Cited by 75

Valuing mortality risk in the time of COVID-19

Hammitt, J. K. (2020) · Journal of Risk and Uncertainty · doi:10.1007/s11166-020-09338-1 · Cited by 88

Commonalities in Time and Ambiguity Aversion for Long-Term Risks*

Chesson, H. W., & Viscusi, W. K. (2003) · Theory and Decision · doi:10.1023/a:1025095318208 · Cited by 70

The Effect of Information Strength and Weight on Behavior in Financial Markets

Nelson, M. W., Bloomfield, R. J., Hales, J., & Libby, R. (2001) · Organizational Behavior and Human Decision Processes · doi:10.1006/obhd.2000.2950 · Cited by 68

Ambiguity aversion in first-price sealed-bid auctions

Salo, A. A., & Weber, M. (1995) · Journal of Risk and Uncertainty · doi:10.1007/bf01067681 · Cited by 69

Preference Reversals for Ambiguity Aversion

Trautmann, S., Vieider, F. M., & Wakker, P. (2011) · Management Sciences · doi:10.1287/mnsc.1110.1343 · Cited by 91

Smooth Ambiguity Aversion toward Small Risks and Continuous-Time Recursive Utility

Skiadas, C. (2013) · Journal of Political Economy · doi:10.1086/671179 · Cited by 75

Thomas C. Schelling and James M. Sakoda: The Intellectual, Technical, and Social History of a Model

Hegselmann, R. (2017) · Journal of Artificial Societies and Social Simulation · doi:10.18564/jasss.3511 · Cited by 75

Belief, knowledge, and uncertainty: A cognitive perspective on subjective probability

Smith, G. F., Benson, P. G., & Curley, S. P. (1991) · Organizational Behavior and Human Decision Processes · doi:10.1016/0749-5978(91)90016-m · Cited by 75

Social Learning from Private Experiences: The Dynamics of the Selection Problem

Manski, C. F. (2004) · The Review of Economic Studies · doi:10.1111/0034-6527.00291 · Cited by 69

Qualitative Decision Theory with Sugeno IntegralsPreprint

Dubois, D., Prade, H., & Sabbadin, R. (1998) · arXiv (Cornell University) · Cited by 75

The interpretation of uncertainty in ecological rationality

Kozyreva, A., & Hertwig, R. (2019) · Synthese · doi:10.1007/s11229-019-02140-w · Cited by 78

Unknowns, Black Swans and the risk/uncertainty distinction

Faulkner, P., Feduzi, A., & Runde, J. (2017) · Cambridge Journal of Economics · doi:10.1093/cje/bex035 · Cited by 74

Predicting human decisions with behavioural theories and machine learning

Plonsky, O., Apel, R., Ert, E., Tennenholtz, M., Bourgin, D., Peterson, J. C., Reichman, D., Griffiths, T. L., Russell, S., Carter, E. C., et al. (2025) · Nature Human Behaviour · doi:10.1038/s41562-025-02267-6 · Cited by 116

A Paradox for the ''Smooth Ambiguity'' Model of Preference

(2010) · Econometrica · doi:10.3982/ecta8689 · Cited by 74

A brain imaging study of the choice procedure

Rustichini, A., Dickhaut, J. W., Ghirardato, P., Smith, K. C. S., & Pardo, J. V. (2004) · Games and Economic Behavior · doi:10.1016/j.geb.2004.08.005 · Cited by 71

Model World: The Great Debate—MAUT Versus AHP

Gass, S. I. (2005) · INFORMS Journal on Applied Analytics · doi:10.1287/inte.1050.0152 · Cited by 78

Asymmetric Effects of Favorable and Unfavorable Information on Decision Making Under Ambiguity

Peysakhovich, A., & Karmarkar, U. R. (2015) · Management Science · doi:10.1287/mnsc.2015.2233 · Cited by 71

How (in)variant are subjective representations of described and experienced risk and rewards?

Kellen, D., Pachur, T., & Hertwig, R. (2016) · Cognition · doi:10.1016/j.cognition.2016.08.020 · Cited by 71

Ambiguity and the Historical Equity Premium

Mukerji, S., Collard, F., Sheppard, K. K., & Tallon, J. (2011) · Quantitative Economics · doi:10.3982/qe708 · Cited by 108

Dyadic decisions with numerical and verbal probabilities

Budescu, D. V., & Wallsten, T. S. (1990) · Organizational Behavior and Human Decision Processes · doi:10.1016/0749-5978(90)90031-4 · Cited by 74

What Common Ground Exists for Descriptive, Prescriptive, and Normative Utility Theories?

Luce, R. D., & von Winterfeldt, D. (1994) · Management Science · doi:10.1287/mnsc.40.2.263 · Cited by 74

Are the preference axioms really rational?

Anand, P. (1987) · Theory and Decision · doi:10.1007/bf00126305 · Cited by 75

Risk-informed decision-making in the presence of epistemic uncertainty

Dubois, D., & Guyonnet, D. (2010) · International Journal of General Systems · doi:10.1080/03081079.2010.506179 · Cited by 73

One-Shot Decision Theory

Guo, P. (2011) · IEEE Transactions on Systems Man and Cybernetics - Part A Systems and Humans · doi:10.1109/tsmca.2010.2093891 · Cited by 76

The psychology and rationality of decisions from experience

Hertwig, R. (2011) · Synthese · doi:10.1007/s11229-011-0024-4 · Cited by 74

Expected utility: An anniversary and a new era

Fishburn, P. C. (1988) · Journal of Risk and Uncertainty · doi:10.1007/bf00056138 · Cited by 78

Utility Functions for Nonmonetary Events

Galanter, E. (1990) · The American Journal of Psychology · doi:10.2307/1423318 · Cited by 73

The Role of Context in the Communication of Uncertain Beliefs

Fox, C. R., & Irwin, J. R. (1998) · Basic and Applied Social Psychology · doi:10.1207/s15324834basp2001_6 · Cited by 75

Ambiguity, Learning, and Asset ReturnsPreprint

Ju, N., & Miao, J. (2007) · SSRN Electronic Journal · doi:10.2139/ssrn.1017034 · Cited by 73

Aggregating imprecise or conflicting beliefs: An experimental investigation using modern ambiguity theories

Baillon, A., Cabantous, L., & Wakker, P. P. (2012) · Journal of Risk and Uncertainty · doi:10.1007/s11166-012-9140-x · Cited by 72

Ambiguity and the Tradeoff Theory of Capital Structure

Izhakian, Y., Yermack, D., & Zender, J. F. (2021) · Management Science · doi:10.1287/mnsc.2021.4074 · Cited by 72

Communicating uncertainty in seasonal and interannual climate forecasts in Europe

Taylor, A. L., Dessai, S., & de Bruin, W. B. (2015) · Philosophical Transactions of the Royal Society A Mathematical Physical and Engineering Sciences · doi:10.1098/rsta.2014.0454 · Cited by 80

A Scale of Risk

Gardoni, P., & Murphy, C. (2013) · Risk Analysis · doi:10.1111/risa.12150 · Cited by 72

A Post Keynesian theory of decision making under uncertainty

Fontana, G., & Gerrard, B. (2004) · Journal of Economic Psychology · doi:10.1016/j.joep.2003.11.001 · Cited by 77

The effects of control on betting: Paradoxical betting on items of high confidence with low value.

Goodie, A. S. (2003) · Journal of Experimental Psychology Learning Memory and Cognition · doi:10.1037/0278-7393.29.4.598 · Cited by 71

Attitudes toward uncertainty among the poor: an experiment in rural Ethiopia

Akay, A., Martinsson, P., Medhin, H., & Trautmann, S. (2011) · Theory and Decision · doi:10.1007/s11238-011-9250-y · Cited by 91

Aspirational Preferences and Their Representation by Risk Measures

Brown, D. B., Giorgi, E. G. D., & Sim, M. (2011) · Management Science · doi:10.1287/mnsc.1120.1537 · Cited by 69

Sources and implications of deep uncertainties surrounding sea-level projections

Bakker, A. M. R., Louchard, D., & Keller, K. M. (2016) · Climatic Change · doi:10.1007/s10584-016-1864-1 · Cited by 71

An experimental analysis of acquired impulse control among adult humans intolerant to alcohol

Wang, J., Rao, Y., & Houser, D. E. (2017) · Proceedings of the National Academy of Sciences · doi:10.1073/pnas.1610902114 · Cited by 70

DISCOUNTING FOR PUBLIC POLICY: A SURVEY

Greaves, H. (2017) · Economics and Philosophy · doi:10.1017/s0266267117000062 · Cited by 41

On cognitive preferences and the plausibility of rule-based models

Fürnkranz, J., Kliegr, T., & Paulheim, H. (2019) · Machine Learning · doi:10.1007/s10994-019-05856-5 · Cited by 96

Communicating Scientific Uncertainty About the COVID-19 Pandemic: Online Experimental Study of an Uncertainty-Normalizing Strategy

Han, P. K. J., Scharnetzki, E., Scherer, A. M., Thorpe, A., Lary, C. W., Waterston, L. B., Fagerlin, A., & Dieckmann, N. F. (2021) · Journal of Medical Internet Research · doi:10.2196/27832 · Cited by 81

The Concepts of Risk and Safety

Möller, N. (2012) · Springer eBooks · doi:10.1007/978-94-007-1433-5_3 · Cited by 69

The Impact of Ambiguity on Managerial Investment and Cash Holdings

Neamtiu, M., Shroff, N., White, H. D., & Williams, C. D. (2014) · Journal of Business Finance & Accounting · doi:10.1111/jbfa.12079 · Cited by 69

Subjective ambiguity, expected utility and Choquet expected utility

Zhang, J. (2002) · Economic Theory · doi:10.1007/s001990100207 · Cited by 71

Bayesian Networks and Evidence Theory to Model Complex Systems Reliability

Simon, C., Weber, P., & Levrat, É. (2007) · Journal of Computers · doi:10.4304/jcp.2.1.33-43 · Cited by 71

A dynamic mechanism and surplus extraction under ambiguity

Bose, S., & Daripa, A. (2009) · Journal of Economic Theory · doi:10.1016/j.jet.2009.02.003 · Cited by 63

Short article: Is luck on my side? Optimism, pessimism, and ambiguity aversion

Pulford, B. D. (2009) · Quarterly Journal of Experimental Psychology · doi:10.1080/17470210802592113 · Cited by 68

The role of intuition and reasoning in driving aversion to risk and ambiguity

Butler, J. V., Guiso, L., & Jappelli, T. (2013) · Theory and Decision · doi:10.1007/s11238-013-9407-y · Cited by 67

Decision making with belief functions: Compatibility and incompatibility with the sure-thing principle

Jaffray, J., & Wakker, P. P. (1993) · Journal of Risk and Uncertainty · doi:10.1007/bf01079626 · Cited by 71

Behavioral, but not reward, risk modulates activation of prefrontal, parietal, and insular cortices

Huettel, S. A. (2006) · Cognitive Affective & Behavioral Neuroscience · doi:10.3758/cabn.6.2.141 · Cited by 73

Capacities and probabilistic beliefs: a precarious coexistence

Nehring, K. (1999) · Mathematical Social Sciences · doi:10.1016/s0165-4896(97)00017-6 · Cited by 71

More Is Not Always Better: Intuitions About Effective Public Policy Can Lead to Unintended Consequences

Peters, E. M., Klein, W. M. P., Kaufman, A. R., Meilleur, L. R., & Dixon, A. (2013) · Social Issues and Policy Review · doi:10.1111/j.1751-2409.2012.01045.x · Cited by 73

Modeling certainty equivalents for imprecise gambles

Budescu, D. V., Kuhn, K. M., Kramer, K. M., & Johnson, T. R. (2002) · Organizational Behavior and Human Decision Processes · doi:10.1016/s0749-5978(02)00014-6 · Cited by 69

Beyond gains and losses: The effect of need on risky choice in framed decisions.

Mishra, S., & Fiddick, L. (2012) · Journal of Personality and Social Psychology · doi:10.1037/a0027855 · Cited by 70

Measuring the ambiguity tolerance of medical students: a cross-sectional study from the first to sixth academic years

Weissenstein, A., Ligges, S., Brouwer, B., Marschall, B., & Friederichs, H. (2014) · BMC Family Practice · doi:10.1186/1471-2296-15-6 · Cited by 70

Take-up for genetic tests and ambiguity

Hoy, M., Peter, R., & Richter, A. (2014) · Journal of Risk and Uncertainty · doi:10.1007/s11166-014-9186-z · Cited by 68

Ambiguity Aversion with Three or More Outcomes

Machina, M. J. (2014) · American Economic Review · doi:10.1257/aer.104.12.3814 · Cited by 69

Ambiguity Aversion Decreases the Impact of Partial Insurance: Evidence from African Farmers

Bryan, G. (2019) · Journal of the European Economic Association · doi:10.1093/jeea/jvy056 · Cited by 74

Developmental perspectives on risky and impulsive choice

Rosenbaum, G. M., & Hartley, C. A. (2018) · Philosophical Transactions of the Royal Society B Biological Sciences · doi:10.1098/rstb.2018.0133 · Cited by 75

Revealed Relative UtilitarianismPreprint

Börgers, T., & Choo, Y.-M. (2017) · SSRN Electronic Journal · doi:10.2139/ssrn.3035741 · Cited by 16

On the Interpretation of Nonsymmetric Bargaining Solutions and Their Extension to Nonexpected Utility Preferences

Valenciano, F., & Zarzuelo, J. M. (1994) · Games and Economic Behavior · doi:10.1006/game.1994.1062 · Cited by 14

Marginalism and the Shapley valuePreprint

Ghintran, A. (2010) · RePEc: Research Papers in Economics

Axiomatic Theory of Bargaining with a Variable Number of Agents

THOMSON, W. J., & Lensberg, T. (1989) · Cambridge University Press eBooks · doi:10.1017/cbo9780511664489 · Cited by 98

Savage's P3 Is Redundant

Hartmann, L. (2020) · Econometrica · doi:10.3982/ecta17428 · Cited by 14