prof.dr. (Peter) P.P. Wakker

Professor in decision under uncertainty

Full Professor Erasmus School of Economics Applied Economics

Location: Erasmus University Rotterdam
Room: -
Telephone
Email: wakker@ese.eur.nl

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Personal website.

Peter Wakker is professor of decisions under uncertainty at the Econometric Institute of Erasmus School of…

Personal website.

Peter Wakker is professor of decisions under uncertainty at the Econometric Institute of Erasmus School of Economics (ESE). He works in behavioral economics and on risk and ambiguity.

Wakker has published in leading journals in economics, business, medicine, psychology, statistics, and mathematics. He was nominated the best-publishing Dutch economist in the years 1994, 1998, 2003, and 2007, and was ranked 90th in the world in the ISI's most cited scientists in economics and business in 2003. He received a Medical Decision Making Career Achievement Award (2007), the Frank P. Ramsey Medal (2013; highest award of INFORMS Decision Analysis Society), and an Honorary doctorate in economics (University of St. Gallen 2016).

Wakker frequently gives advices on insurance in the media.

Wakker is a director of the research group Behavioral Economics.

- - - Z. Li, J. Mueller, P.P. Wakker & T.V. Wang (2018). The Rich Domain of Ambiguity Explored. Management Science, Accepted. doi: 10.1287/mnsc.2017.2777
    - A. Baillon, Z. Huang, A. Selim & P.P. Wakker (2018). Measuring Ambiguity Attitudes for All (Natural) Events. Econometrica, Accepted.
    - S.T. Trautmann & P.P. Wakker (2018). Making the Anscombe-Aumann Approach to Ambiguity Suitable for Descriptive Applications. Journal of Risk and Uncertainty, 56, 83-116. doi: 10.1007/s11166-018-9273-7[go to publisher's site]
    - C. Li, U. Turmunkh & P.P. Wakker (2018). Trust as a Decision under Ambiguity. Experimental Economics, in press.
    - H. Bleichrodt, A. Kothiyal, M. Filko & P.P. Wakker (2017). Making Case-Based Decision Theory Directly Observable. American Economic Journal. Microeconomics, 9 (1), 123-151. doi: http://dx.doi.org/10.1257/mic.20150172[go to publisher's site]
    - Z. Li, K.I.M. Rohde & P.P. Wakker (2017). Improving One’s Choices by Putting Oneself in Others’ Shoes—An Experimental Analysis. Journal of Risk and Uncertainty, 54 (1), 1-13. doi: 10.1007/s11166-017-9253-3[go to publisher's site]
    - J. Chai, C. Li, P.P. Wakker, T. Wang & J. Yang (2016). Reconciling Savage’s and Luce’s Modeling of Uncertainty: The Best of Both Worlds. Journal of Mathematical Psychology, 75, 10-18. doi: http://dx.doi.org/10.1016/j.jmp.2015.10.007[go to publisher's site]
    - A. Baillon, H. Bleichrodt, N. Liu & P.P. Wakker (2016). Group Decision Rules and Group Rationality under Risk. Journal of Risk and Uncertainty, 52 (2), 99-116. doi: http://dx.doi.org/10.1007/s11166-016-9237-8[go to publisher's site]
    - A.E. Attema, H. Bleichrodt, Y. Gao, Z. Huang & P.P. Wakker (2016). Measuring Discounting without Measuring Utility. The American Economic Review, 106 (6), 1476-1494. doi: http://dx.doi.org/10.1257/aer.20150208[go to publisher's site]
    - J. Chai, C. Li, P.P. Wakker, T. Wang & J. Yang (2016). Reconciling Savage’s and Luce’s modeling of uncertainty: The best of both worlds. Journal of Mathematical Psychology, 75, 10-18. doi: https://doi.org/10.1016/j.jmp.2015.10.007
    - S.G. Dimmock, R.R.P. Kouwenberg & P.P. Wakker (2016). Ambiguity Attitudes in a Large Representative Sample. Management Science, 62 (5), 1363-1380. doi: http://dx.doi.org/10.1287/mnsc.2015.2198
    - H. Bleichrodt, C. Li, I. Moscati & P.P. Wakker (2016). Nash Was a First to Axiomatize Expected Utility. Theory and Decision, 81, 309-312. doi: http://dx.doi.org/10.1007/s11238-016-9542-3[go to publisher's site]
    - C. Sales, P.P. Wakker, P.C.G. Alves & L. Faísca (2015). MF Calculator: A Web-based Application for Analyzing Similarity. Journal of Statistical Software, 65. doi: http://dx.doi.org/10.18637/jss.v065.c02
    - H. Bleichrodt, K.I.M. Rohde, V. Spinu, U. Keskin & P.P. Wakker (2015). Discounted Utility and Present Value—A Close Relation. Operations Research, 63 (6), 1420-1430. doi: http://dx.doi.org/10.1287/opre.2015.1433
    - H. Bleichrodt & P.P. Wakker (2015). Regret Theory: A Bold Alternative to the Alternatives. The Economic Journal, 125, 493-532. doi: http://dx.doi.org/10.1111/ecoj.12200[go to publisher's site]
    - A. Kothiyal, V. Spinu & P.P. Wakker (2014). An Experimental Test of Prospect Theory for Predicting Choice under Ambiguity. Journal of Risk and Uncertainty, 48 (1), 1-17. doi: http://dx.doi.org/10.1007/s11166-014-9185-0[go to publisher's site]
    - A. Kothiyal, V. Spinu & P.P. Wakker (2014). Average Utility Maximization: A Preference Foundation. Operations Research, 62 (1), 207-218. doi: http://dx.doi.org/10.1287/opre.2013.1230[go to publisher's site]
    - A. de Palma, M. Abdellaoui, G. Attanasi, M. Ben-Akiva, I. Erev, H. Fehr-Duda, D. Fok, C. Fox, R. Hertwig, N. Picard, P.P. Wakker, J. Walker & M. Weber (2014). Beware of Black Swans: Taking stock of the description - experience gap in decision under uncertainty. Marketing Letters, 25 (3), 269-280. doi: http://dx.doi.org/10.1007/s11002-014-9316-z[go to publisher's site]
    - P.P. Wakker, C. Li & Z. Li (2014). If Nudge Cannot Be Applied: A Litmus Test of the Readers’ Stance on Paternalism. Theory and Decision, 76, 297-315. doi: http://dx.doi.org/10.1007/s11238-013-9375-2[go to publisher's site]
    - V. Spinu & P.P. Wakker (2013). Expected Utility without Continuity: A Comment on Delbaen, Drapeau, and Kupper (2011). Journal of Mathematical Economics, 49 (1), 28-30. doi: http://dx.doi.org/10.1016/j.jmateco.2012.09.005[go to publisher's site]
    - H. Bleichrodt, A. Kothiyal, D. Prelec & P.P. Wakker (2013). Compound Invariance Implies Prospect Theory for Simple Prospects. Journal of Mathematical Psychology, 57 (3-4), 68-77. doi: http://dx.doi.org/10.1016/j.jmp.2013.04.002[go to publisher's site]
    - H. Bleichrodt, R.J.D. Potter van Loon, K.I.M. Rohde & P.P. Wakker (2013). A Criticism of Doyle's Survey of Time Preference: A Correction Regarding the CRDI and CADI Families. Judgment and decision making, 8 (5), 630-631.
    - A. Baillon, L. Cabantous & P.P. Wakker (2012). Aggregating Imprecise or Conflicting Beliefs: An Experimental Investigation Using Modern Ambiguity Theories. Journal of Risk and Uncertainty, 44 (2), 115-147. doi: http://dx.doi.org/10.1007/s11166-012-9140-x[go to publisher's site]
    - A.E. Attema, H. Bleichrodt & P.P. Wakker (2012). A Direct Method for Measuring Discounting and QALYs more Easily and Reliably. Medical Decision Making, 32 (4), 583-593. doi: http://dx.doi.org/10.1177/0272989X12451654[go to publisher's site]
    - G. Baltussen, G.T. Post, M.J. van den Assem & P.P. Wakker (2012). Random Incentive Systems in a Dynamic Choice Experiment. Experimental Economics, 15 (3), 418-443. doi: http://dx.doi.org/10.1007/s10683-011-9306-4[go to publisher's site]
    - A. Baillon, B. Driesen & P.P. Wakker (2012). Relative Concave Utility for Risk and Ambiguity. Games and Economic Behavior, 75 (2), 481-489. doi: http://dx.doi.org/10.1016/j.geb.2012.01.006
    - M. Abdellaoui, A. Baillon, L. Placido & P.P. Wakker (2011). The Rich Domain of Uncertainty: Source Functions and Their Experimental Implementation. The American Economic Review, 101 (2), 695-723. doi: http://dx.doi.org/10.1257/aer.101.2.695[go to publisher's site]
    - S.T. Trautmann, F.M. Vieider & P.P. Wakker (2011). Preference Reversals for Ambiguity Aversion. Management Science, 57 (7), 1320-1333. doi: http://dx.doi.org/10.1287/mnsc.1110.1343[go to publisher's site]
    - G. van de Kuilen & P.P. Wakker (2011). The Midweight Method to Measure Attitudes towards Risk and Ambiguity. Management Science, 57 (3), 582-598. doi: http://dx.doi.org/10.1287/mnsc.1100.1282[go to publisher's site]
    - P.P. Wakker (2011). Jaffray's Ideas on Ambiguity. Theory and Decision, 71 (1), 11-22. doi: http://dx.doi.org/10.1007/s11238-010-9209-4[go to publisher's site]
    - A. Kothiyal, V. Spinu & P.P. Wakker (2011). Comonotonic Proper Scoring Rules to Measure Ambiguity and Subjective Beliefs. Journal of Multi-Criteria Decision Analysis, 17 (3/4), 101-113. doi: http://dx.doi.org/10.1002/mcda.454
    - A. Kothiyal, V. Spinu & P.P. Wakker (2011). Prospect Theory for Continuous Distributions: A Preference Foundation. Journal of Risk and Uncertainty, 42, 195-210. doi: http://dx.doi.org/10.1007/s11166-011-9118-0[go to publisher's site]
    - H. Bleichrodt, J.N. Doctor, M. Filko & P.P. Wakker (2011). Utility Independence of Multiattribute Utility Theory is Equivalent to Standard Sequence Invariance of Conjoint Measurement. Journal of Mathematical Psychology, 55 (6), 451-456. doi: http://dx.doi.org/10.1016/j.jmp.2011.08.001[go to publisher's site]
    - A.E. Attema, H. Bleichrodt, K.I.M. Rohde & P.P. Wakker (2010). Time-Tradeoff Sequences for Analyzing Discounting and Time Inconsistency. Management Science, 56 (11), 2015-2030. doi: http://dx.doi.org/10.1287/mnsc.1100.1219
    - S.T. Trautmann & P.P. Wakker (2010). Process Fairness and Dynamic Consistency. Economics Letters, 109 (3), 187-189. doi: http://dx.doi.org/10.1016/j.econlet.2010.08.031[go to publisher's site]
    - H. Bleichrodt, K.I.M. Rohde & P.P. Wakker (2009). Non-Hyperbolic Time Inconsistency. Games and Economic Behavior, 66 (1), 27-38. doi: http://dx.doi.org/10.1016/j.geb.2008.05.007[go to publisher's site]
    - T. Offerman, J. Sonnemans, G. van de Kuilen & P.P. Wakker (2009). A Truth-Serum for Non-Bayesians: Correcting Proper Scoring Rules for Risk Attitudes. Review of Economic Studies, 76 (4), 1461-1489. doi: http://dx.doi.org/10.1111/j.1467-937X.2009.00557.x[go to publisher's site]
    - C. Sales & P.P. Wakker (2009). The Metric-Frequency Measure of Similarity for Ill-Structured Data Sets, with an Application to Family Therapy. British Journal of Mathematical and Statistical Psychology, 62 (3), 663-682. doi: http://dx.doi.org/10.1348/000711008X376070
    - P.P. Wakker (2008). Lessons Learned by (from?) an Economists Working in Medical Decision Making. Medical Decision Making, 28, 690-698. doi: http://dx.doi.org/10.1177/0272989X08323916
    - H. Bleichrodt, K.I.M. Rohde & P.P. Wakker (2008). Koopmans' Constant Discounting for Intertemporal Choice: A Simplification and a Generalization. Journal of Mathematical Psychology, 52 (6), 341-347. doi: http://dx.doi.org/10.1016/j.jmp.2008.05.003
    - P.P. Wakker (2008). Explaining the Characteristics of the Power (CRRA) Utility Family. Health Economics, 17 (12), 1329-1344. doi: http://dx.doi.org/10.1002/hec.1331
    - H. Bleichrodt, K.I.M. Rohde & P.P. Wakker (2008). Combining additive representations on subsets into an overall representation. Journal of Mathematical Psychology, 52 (5), 304-310. doi: http://dx.doi.org/10.1016/j.jmp.2008.04.005
    - A. de Palma, M. Ben-Akiva, D. Brownstone, C. Holt, M. Thierry, D. McFadden, P. Moffatt, N. Picard, K. Train, P.P. Wakker & J. Walker (2008). Risk, Uncertainty and Discrete Choice Models. Marketing Letters, 19 (3/4), 269-285. doi: http://dx.doi.org/10.1007/s11002-008-9047-0[go to publisher's site]
    - S.T. Trautmann, F. Vieider & P.P. Wakker (2008). Causes of Ambiguity Aversion: Known versus Unknown Preferences. Journal of Risk and Uncertainty, 36 (3), 225-243. doi: http://dx.doi.org/10.1007/s11166-008-9038-9[go to publisher's site]
    - P.P. Wakker, D.R.M. Timmermans & I.A. Machielse (2007). The Effects of Statistical Information on Risk and Ambiguity Attitudes, and on Rational Decisions. Management Science, 53 (11), 1770-1784. doi: http://dx.doi.org/10.1287/mnsc.1070.0735[go to publisher's site]
    - M. Abdellaoui, C. Barrios & P.P. Wakker (2007). Reconciling Introspective Utility with Revealed Preference: Experimental Arguments Based on Prospect Theory. Journal of Econometrics, 138 (1), 336-378. doi: http://dx.doi.org/10.1016/j.jeconom.2006.05.025
    - E. Diecidue, P.P. Wakker & M. Zeelenberg (2007). Eliciting Decision Weights by Adapting de Finetti's Betting-Odds Methods to Prospect Theory. Journal of Risk and Uncertainty, 34, 179-199. doi: http://dx.doi.org/10.1007/s11166-007-9011-z
    - V. Kobberling, C. Schwieren & P.P. Wakker (2007). Prospect-Theory's Diminishing Sensitivity versus Economics' Intrinsic Utility of Money: How the Introduction of the of the Euro Can Be Used to Disentagle the Two Empirically. Theory and Decision, 63 (3), 205-231.
    - G.E. van de Kuilen & P.P. Wakker (2006). Learning in the Allais Paradox. Journal of Risk and Uncertainty, 33, 155-164. doi: http://dx.doi.org/10.1007/s11166-006-0390-3
    - P.P. Wakker (2005). Decision-Foundations for Properties of Nonadditive Measures for General State Spaces or for General Outcome Spaces. Games and Economic Behavior, 50, 107-125.
    - V. Kobberling & P.P. Wakker (2005). An Index of Loss Aversion. Journal of Economic Theory, 122, 119-131.
    - M. Abdellaoui & P.P. Wakker (2005). The Likelihood Method for Decision under Uncertainty. Theory and Decision, 58, 3-76.
    - S.M.C. van Osch, P.P. Wakker, W. van den Hout & A. Stiggelbout (2004). Correcting Biases in Standard Gamble and Time Tradeoff Utilities. Medical Decision Making, 24, 511-517.
    - V. Kobberling & P.P. Wakker (2004). A Simple Tool for Qualitatively Testing, Quantitatively Measuring, and Normatively Justifying Savage's Subjective Expected Utility. Journal of Risk and Uncertainty, 28, 135-145.
    - E. Diecidue, U. Schmidt & P.P. Wakker (2004). The Utility of Gambling Reconsidered. Journal of Risk and Uncertainty, 29, 241-259.
    - P.P. Wakker (2004). On the Composition of Risk Preference and Belief. Psychological Review, 111, 236-241. doi: http://dx.doi.org/10.1037/0033-295X.111.1.236
    - P.P. Wakker, S.J.T. Jansen & A. Stiggelbout (2004). Anchor Levels as a New Tool for the Theory and Measurement of Multiattribute Utility. Decision Analysis, 1, 217-234.
    - V. Kobberling & P.P. Wakker (2003). Preference Foundations for Nonexpected Utility: A Generalized and Simplified Technique. Mathematics of Operations Research, 28, 395-423.
    - P.P. Wakker (2003). The Data of Levy and Levy (2002) "Prospect Theory: Much Ado about Nothing?" Actually Support Prospect Theory. Management Science, 49, 979-981.
    - E. Diecidue & P.P. Wakker (2002). Dutch Books: Avoiding Strategic and Dynamic Complications, and a Comonotonic Extension. Mathematical Social Sciences, 43, 135-149.
    - I. Gilboa, D. Schmeidler & P.P. Wakker (2002). Utility in Case-Based Decision Theory. Journal of Economic Theory, 105, 483-502.
    - P.P. Wakker & H. Zank (2002). A Simple Preference-Foundation of Cumulative Prospect Theory with Power Utility. European Economic Review, 46, 1253-1271.
    - P.P. Wakker (2001). Testing and Characterizing Properties of Nonadditive Measures through Violations of the Sure-Thing Principle. Econometrica, 69, 1039-1059.
    - E. Diecidue & P.P. Wakker (2001). On the Intuition of Rank-Dependent Utility. Journal of Risk and Uncertainty, 23, 281-298.
    - P.N. Post, A.M. Siggelbout & P.P. Wakker (2001). The Utility of Health States Following Stroke; a Systematic Review of the Literature. Stroke, 32, 1425-1429.
    - A. De Waegenaere & P.P. Wakker (2001). Nonmonotonic Choquet Integrals. Journal of Mathematical Economics, 36, 45-60.
    - H. Bleichrodt, J.L. Pinto & P.P. Wakker (2001). Making Descriptive Use of Prospect Theory to Improve the Prescriptive Use of Expected Utility. Management Science, 47 (11), 1498-1514.
    - P.P. Wakker (2000). Dempster Belief Functions Are Based on the Principle of Complete Ignorance. International Journal of Uncertainty Fuzziness and Knowledge-Based Systems, 8, 271-284.
    - S.J.T. Jansen, A. Stiggelbout, P.P. Wakker, A.N. Nooij, E.M. Noordijk & J. Kievit (2000). Unstable Preferences: A Shift in Valuation or an Effect of the Elicitation Procedure? Medical Decision Making, 20, 62-71.
    - R.K. Sarin & P.P. Wakker (2000). Cumulative Dominance and Probabilistic Sophistication. Mathematical Social Sciences, 40, 191-196.
    - P.P. Wakker (2000). Uncertainty Aversion: A Discussion of Critical Issues in Health Economics. Health Economics, 9, 261-263.
    - P.P. Wakker & H. Zank (1999). A Unified Derivation of Classical Subjective Expected Utility Models through Cardinal Utility. Journal of Mathematical Economics, 32, 1-19.
    - A. Chateauneuf & P.P. Wakker (1999). An Axiomatization of Cumulative Prospect Theory for Decision under Risk. Journal of Risk and Uncertainty, 18, 137-145.
    - P.P. Wakker & H. Zank (1999). State Dependent Expected Utility for Savage's State Space. Mathematics of Operations Research, 24, 8-34.
    - S.J.T. Jansen, A.M. Siggelbout, P.P. Wakker, T.P.M. Vliet Vlieland, J.W.H. Leer, M.A. Nooy & J. Kievit (1998). Patient Utilities for Cancer Treatments: A Study of the Chained Procedure for the Standard Gamble and Time TradeOff. Medical Decision Making, 18, 391-399. doi: http://dx.doi.org/10.1177/0272989X9801800406
    - R.K. Sarin & P.P. Wakker (1998). Revealed Likelihood and Knightian Uncertainty. Journal of Risk and Uncertainty, 16, 223-250. doi: http://dx.doi.org/1007703002999
    - R.K. Sarin & P.P. Wakker (1998). Dynamic Choice and Nonexpected Utility. Journal of Risk and Uncertainty, 17, 87-119.
    - J.M. Miyamoto, P.P. Wakker, H. Bleichrodt & H.J.M. Peters (1998). The Zero-Condition: A Simplifying Assumption in QALY Measurement and Multiattribute Utility. Management Science, 44, 839-849.
    - R.K. Sarin & P.P. Wakker (1997). A Single-Stage Approach to Anscombe and Aumann's Expected Utility. Review of Economic Studies, 64, 399-409.
    - H. Fennema & P.P. Wakker (1997). Original and Cumulative Prospect Theory: A Discussion of Empirical Differences. Journal of Behavioral Decision Making, 10, 53-64.
    - H. Bleichrodt, P.P. Wakker & M. Johannesson (1997). Characterizing QALYs by Risk Neutrality. Journal of Risk and Uncertainty, 15 (15), 107-114.
    - P.P. Wakker, R.H. Thaler & A. Tversky (1997). Probabilistic Insurance. Journal of Risk and Uncertainty, 15, 7-28. doi: http://dx.doi.org/1007799303256
    - D. Kahneman, P.P. Wakker & R.K. Sarin (1997). Back to Bentham? Explorations of Experienced Utility. The Quarterly Journal of Economics, 112, 375-405. doi: http://dx.doi.org/10.1162/003355397555235
    - P. Stalmeier, P.P. Wakker & Th.G.G. Bezembinder (1997). Preference Reversals: Violations of Unidimensional Procedure Invariance. Journal of Experimental Psychology-Human Perception and Performance, 23, 1196-1205.
    - H. Fennema & P.P. Wakker (1996). A Test of Rank-Dependent Utility in the Context of Ambiguity. Journal of Risk and Uncertainty, 13, 19-35.
    - P.P. Wakker (1996). A Criticism of Healthy-Years Equivalents. Medical Decision Making, 16, 207-214.
    - S.H. Chew & P.P. Wakker (1996). The Comonotonic Sure-Thing Principle. Journal of Risk and Uncertainty, 12, 5-27. doi: http://dx.doi.org/10.1007/BF00353328
    - P.P. Wakker & D. Deneffe (1996). Eliciting von Neumann-Morgenstern Utilities when Probabilities Are Distorted or Unknown. Management Science, 42, 1131-1150.
    - P.P. Wakker (1996). The Sure-Thing Principle and the Comonotonic Sure-Thing Principle: An Axiomatic Analysis. Journal of Mathematical Economics, 25, 213-227. doi: http://dx.doi.org/10.1016/0304-4068(95)00721-0
    - H.J.M. Peters & P.P. Wakker (1996). Cycle-Preserving Extension of Demand Functions to New Commodities. Journal of Mathematical Economics, 25, 281-290. doi: http://dx.doi.org/10.1016/0304-4068(95)00733-4
    - D. Deneffe & P.P. Wakker (1996). Mergers, Strategic Investments and Antitrust Policy. Managerial and Decision Economics, 17, 231-240.
    - J. Miyamoto & P.P. Wakker (1996). Multiattribute Utility Theory without Expected Utility Foundations. Operations Research, 44, 313-326.
    - A. Tversky & P.P. Wakker (1995). Risk Attitudes and Decision Weights. Econometrica, 63, 1255-1280.
    - P.C.,. Fishburn & P.P. Wakker (1995). The Invention of the Independence Condition for Preferences. Management Science, 41, 1130-1144.
    - A.I.R. Maas, Th.G.G. Bezembinder & P.P. Wakker (1995). On Solving Intransitivities in Repeated Pairwise Choices. Mathematical Social Sciences, 29, 83-101. doi: http://dx.doi.org/10.1016/0165-4896(94)00769-5
    - P.P. Wakker & A. Stiggelbout (1995). Explaining Distortions in Utility Elicitation through the Rank-Dependent Model for Risky Choices. Medical Decision Making, 15, 180-186.
    - P.P. Wakker & M.P. Klaassen (1995). Confidence Intervals for Cost/Effectiveness Ratios. Health Economics, 4, 373-381.
    - R.K. Sarin & P.P. Wakker (1994). A General Result for Quantifying Beliefs. Econometrica, 62, 683-685.
    - R.K. Sarin & P.P. Wakker (1994). Folding Back in Decision Tree Analysis. Management Science, 40, 625-628.
    - J. Quiggin & P.P. Wakker (1994). The Axiomatic Basis of Anticipated Utility; A Clarification. Journal of Economic Theory, 64, 486-499.
    - H.J.M. Peters & P.P. Wakker (1994). WARP Does not Imply SARP for More Than Two Commodities. Journal of Economic Theory, 62, 152-160.
    - A.I.R. Maas & P.P. Wakker (1994). Additive Conjoint Measurement for Multiattribute Utility. Journal of Mathematical Psychology, 38, 86-101.
    - P.P. Wakker (1994). Separating Marginal Utility and Probabilistic Risk Aversion. Theory and Decision, 36, 1-44. doi: http://dx.doi.org/10.1007/BF01075296
    - P.P. Wakker, I. Erev & E.U. Weber (1994). Comonotonic Independence: The Critical Test between Classical and Rank-Dependent Utility Theories. Journal of Risk and Uncertainty, 9, 195-230.
    - P.P. Wakker (1993). Savage's Axioms Usually Imply Violation of Strict Stochastic Dominance. Review of Economic Studies, 60, 487-493.
    - P.P. Wakker (1993). Clarification of some Mathematical Misunderstandings about Savage's Foundations of Statistics, 1954. Mathematical Social Sciences, 25, 199-202.
    - P.P. Wakker (1993). Additive Representations on Rank-Ordered Sets II. The Topological Approach. Journal of Mathematical Economics, 22, 1-26.
    - J.Y. Jaffray & P.P. Wakker (1993). Decision Making with Belief Functions: Compatibility and Incompatibility with the Sure-Thing Principle. Journal of Risk and Uncertainty, 7, 255-271.
    - A. Chateauneuf & P.P. Wakker (1993). From Local to Global Additive Representation. Journal of Mathematical Economics, 22, 523-545. doi: http://dx.doi.org/10.1016/0304-4068(93)90002-3
    - P.P. Wakker & A. Tversky (1993). An Axiomatization of Cumulative Prospect Theory. Journal of Risk and Uncertainty, 7, 147-176.
    - P.P. Wakker (1993). Counterexamples to Segal's Measure Representation Theorem. Journal of Risk and Uncertainty, 6, 91-98.
    - P.P. Wakker (1993). Unbounded Utility for Savage's Foundations of Statistics, and other Models. Mathematics of Operations Research, 18, 446-485.
    - S.H. Chew, L.G. Epstein & P.P. Wakker (1993). A Unifying Approach to Axiomatic Non-Expected Utility Theories: Correction and Comment. Journal of Economic Theory, 59, 183-188.
    - P.P. Wakker (1992). Characterizing Stochastically Monotone Functions by Multi-Attribute Utility Theory. Economic Theory, 2, 565-566. doi: http://dx.doi.org/10.1007/BF01212477
    - R.K. Sarin & P.P. Wakker (1992). A Simple Axiomatization of Nonadditive Expected Utility. Econometrica, 60, 1255-1272.
    - P.P. Wakker (1991). Additive Representation for Equally Spaced Structures. Journal of Mathematical Psychology, 260-266. doi: http://dx.doi.org/10.1016/0022-2496(91)90028-R
    - P.P. Wakker (1991). Continuity of Transformations. Journal of Mathematical Analysis and Applications, 162, 1-6.
    - H.J.M. Peters & P.P. Wakker (1991). Independence of Irrelevant Alternatives and Revealed Group Preferences. Econometrica, 59, 1787-1801.
    - P.P. Wakker (1991). Additive Representations on Rank-Ordered Sets. I. The Algebraic Approach. Journal of Mathematical Psychology, 35, 501-531. doi: http://dx.doi.org/10.1016/0022-2496(91)90045-U
    - P.P. Wakker (1990). A Behavioral Foundation for Fuzzy Measures. Fuzzy Sets & Systems, 37, 327-350. doi: http://dx.doi.org/10.1016/0165-0114(90)90030-A
    - P.P. Wakker (1990). Under Stochastic Dominance Choquet-Expected Utility and Anticipated Utility are Identical. Theory and Decision, 29, 119-132. doi: http://dx.doi.org/10.1007/BF00126589
    - P.P. Wakker (1990). Characterizing Optimism and Pessimism Directly hrough Comonotonicity. Journal of Economic Theory, 52, 453-463. doi: http://dx.doi.org/10.1016/0022-0531(90)90043-J
    - P.P. Wakker (1989). Subjective Expected Utility with Non-Increasing Risk Aversion. Annals of Operations Research, 19, 219-228. doi: http://dx.doi.org/10.1007/BF02283522
    - P.P. Wakker (1989). Nonexpected Utility as Aversion of Information: A Discussion. Journal of Behavioral Decision Making, 2, 197-202. doi: http://dx.doi.org/10.1002/bdm.3960020306
    - P.P. Wakker (1989). Continuous Subjective Expected Utility with Nonadditive Probabilities. Journal of Mathematical Economics, 18, 1-27. doi: http://dx.doi.org/10.1016/0304-4068(89)90002-5
    - P.P. Wakker (1989). A Graph-Theoretic Approach to Revealed Preference. Methodology and Science, 22, 53-66.
    - P.P. Wakker (1988). Nonexpected Utility as Aversion of Information. Journal of Behavioral Decision Making, 1, 169-175.
    - P.P. Wakker (1988). The Algebraic versus the Topological Approach to Additive Representations. Journal of Mathematical Psychology, 32, 421-435. doi: http://dx.doi.org/10.1016/0022-2496(88)90021-1
    - P.P. Wakker (1988). Continuity of Preference Relations for Separable Topologies. International Economic Review, 29, 105-110.
    - P.P. Wakker (1988). Derived Strength of Preference Relations on Coordinates. Economics Letters, 28, 301-306. doi: http://dx.doi.org/10.1016/0165-1765(88)90002-X
    - P.P. Wakker (1987). Subjective Probabilities for State-Dependent Continuous Utility. Mathematical Social Sciences, 14, 289-298. doi: http://dx.doi.org/10.1016/0165-4896(87)90007-2
    - H.J.M. Peters & P.P. Wakker (1987). Convex Functions on Non-Convex Domains. Economics Letters, 22, 251-255. doi: http://dx.doi.org/10.1016/0165-1765(86)90242-9
    - P.P. Wakker, H.J.M. Peters & T.B.P.L. van Riel (1986). Comparisons of Risk Aversion, with an Application to Bargaining. Methods of Operations Research, 54, 307-320.
    - P.P. Wakker (1986). The Repetitions Approach to Characterize Cardinal Utility. Theory and Decision, 20, 33-40.
    - P.P. Wakker (1985). Extending Monotone and Non-Expansive Mappings by Optimization. Cahiers du C.E.R.O., 27, 141-149.
    - P.P. Wakker (1985). Continuous Expected Utility for Arbitrary State Spaces. Methods of Operations Research, 50, 113-129.
    - P.P. Wakker (1984). Cardinal Coordinate Independence for Expected Utility. Journal of Mathematical Psychology, 28, 110-117. doi: http://dx.doi.org/10.1016/0022-2496(84)90021-X
    - R. de Koster, H.J.M. Peters, S.H. Tijs & P.P. Wakker (1983). Risk Sensitivity, Independence of Irrelevant Alternatives and Continuity of Bargaining Solutions. Mathematical Social Sciences, 4, 295-300.
    - P.P. Wakker (1981). Agreeing Probability Measures for Comparative Probability Structures. Annals of Statistics, 9, 658-662.
  - - P.P. Wakker (2014). Verliesangst. NRC Handelsblad, 27 June (Delta Loyyd Magazine), 9-9.
    - F. de Raat, E. Hordijk & P.P. Wakker (2014). Laat het Los, Al Die Verzekeringen. NRC Handelsblad, E18-E19.
    - N. Vrieselaar, R. Koijen & P.P. Wakker (2014). Sparen voor de Dood. Elsevier, 70 (47), 73-73.
    - R. Stallinga & P.P. Wakker (2013). Wie nooit wil verliezen, mist veel kansen. Safe (Robeco), 2013#2 (02), 26-26.
    - J. Wester & P.P. Wakker (2012). Heffen op Nationale Hobby: Verzekeren. NRC Handelsblad, 9-9.
    - R. Boere & P.P. Wakker (2012). Honderd Euro Polisgeld Is Snel Terugverdiend. Algemeen Dagblad, 4 Oct 2012, 4-4.
    - M. Brinks & P.P. Wakker (2012). Risico is geen Nederlands Woord. Het Parool, 9 Aug 2012, 9-9.
    - P. Steenhof & P.P. Wakker (2008). Verliesangst Is Drijfveer voor Afsluiten Verzekeren. Post Scriptum, 10 (1), 27-29.
  - - P.P. Wakker (1995). Keuze-Theorie: Die Verdraaide Preferenties! Economisch-Statistische Berichten, 80/4000, 231-231.
- - P.P. Wakker (2010). Prospect Theory: For Risk and Ambiguity. Cambridge, UK: Cambridge University Press
  - P.P. Wakker (1989). Additive Representations of Preferences, A New Foundation of Decision Analysis. Dordrecht: Kluwer Academic Publishers
- - H.J.M. Peters & P.P. Wakker (2010). Independence of Irrelevant Alternatives and Revealed Group Preferences (Extended abstract). In T. Ichiishi & A. Neyman (Eds.), Game Theory and Applications (pp. 404-406). New York: Academic Press
  - P.P. Wakker (2008). Uncertainty. In L. Blume & S.N. Durlauf (Eds.), The New Palgrave: A Dictionary of Economics (8) (pp. 428-439). Basingstoke: Palgrave MacMillan
  - P.P. Wakker (2004). Preference Axiomatizations for Decision under Uncertainty. In I. Gilboa (Ed.), Uncertainty in Economic Theory: Essays in Honor of David Schmeidler's 65 birthday (pp. 20-35). London: Routledge
  - P.P. Wakker (1987). From Decision Making under Uncertainty to Game Theory. In H.J.M. Peters & K.J. Vrieze (Eds.), Surveys of Game Theory and Related Topics (pp. 163-180). Amsterdam: Centre for Mathematics and Computer Science
  - D. Schmeidler & P.P. Wakker (1987). Expected Utility and Mathematical Expectation. In J. Eatwell, M. Murray & P. Newman (Eds.), The New Palgrave: A Dictionary of Economics (pp. 229-232). London: The MacMillan Press
- - P.P. Wakker (2000). Book Review [Bespreking van het boek Handbook of Utility Theory; Vol. 1]. The Journal of Economic Literature, 38, 638-639.
  - P.P. Wakker (2000). Luce's Paradigm for Decision under Uncertainty [Bespreking van het boek Utility of Gains and Losses: Measurement-Theoretical and Experimental Approaches]. Journal of Mathematical Psychology, 44, 488-493.
  - P.P. Wakker (1998). Non-EU and Insurance [Bespreking van het boek Non-Expected Utility and Risk Management]. Journal of Behavioral Decision Making, 11, 151-160.
  - P.P. Wakker (1996). Book Review [Bespreking van het boek The Craft of Decision Modelling]. Journal of Behavioral Decision Making, 9, 150-151.
  - P.P. Wakker (1996). Time Preference [Bespreking van het boek Choice over Time]. Journal of Behavioral Decision Making, 9, 297-303.
  - P.P. Wakker (1994). Quiggin's Rank-Dependent Model [Bespreking van het boek Generalized Expected Utility Theory: The Rank-Dependent Model]. Journal of Mathematical Psychology, 38, 525-526.
  - P.P. Wakker (1994). Expected versus Nonexpected Utility: The State of the Art [Bespreking van het boek Utility measurements and Applications]. Journal of Mathematical Psychology, 38, 521-524.
  - Th.G.G. Bezembinder & P.P. Wakker (1990). Review [Bespreking van het boek Stevens Handbook of Experimental Psychology]. Acta Psychologica, 75, 193-194.
  - P.P. Wakker (1986). Book Review [Bespreking van het boek Making Decisions]. Kwantitatieve Methoden, 20, 144-145.
- - P.P. Wakker (2002). Decision-Principles to Justify Carnap's Updating Method and to Suggest Corrections of Probability Judgments. In A Darwiche & N Friedman (Eds.), Uncertainty in Artificial Intelligence, Proceedings of the Eighteenth Conference (pp. 544-551). San Francisco, CA: Morgan Kaufmann
  - D.R.M. Timmermans, P. Politser & P.P. Wakker (1995). Aggregation, Rationality, and Risk Communication: Three Current Debates in Medical Decision Making. In J.P. Caverni, M. Bar-Hillel, F. Hutton Barron & H. Jungermann (Eds.), Contributions to Decision Making -I (pp. 111-117). Amsterdam: Elseviers Science
  - H. Fennema & P.P. Wakker (1994). An Explanation and Characterization for the Buying of Lotteries. In S. Rios (Ed.), Decision Theory and Decision Analysis: Trends and Challenges (pp. 163-175). Dordrecht: Kluwer Academic Publishers
  - R.K. Sarin & P.P. Wakker (1994). Gains and Losses in Nonadditive Expected Utility. In M.J. Machina & B.R. Munier (Eds.), Models and Experiments on Risk and Rationality (pp. 157-172). Dordrecht: Kluwer Academic Publishers
  - P.P. Wakker (1991). Additive Representations of Preferences, A New Foundation of Decision Analysis; The Algebraic Approach. In J.P. Doignon & J.C. Falmagne (Eds.), Mathematical Psychology: Current Developments (pp. 71-87). Berlin: Springer
  - P.P. Wakker (1989). Transforming Probabilities without Violating Stochastic Dominance. In E.E.Ch.I. Roskam (Ed.), Mathematical Psychology in Progress (pp. 29-47). Berlin: Springer
  - P.P. Wakker (1988). Characterizations of Quasilinear Representing Functions, and Specified Forms of These. In W. Eichhorn (Ed.), Measurement in Economics (Theory and Applications of Economic Indices (pp. 311-326). Heidelberg: Physica-Verlag
  - P.P. Wakker (1986). Concave Additively Decomposable Representing Functions and Risk Aversion. In L. Daboni, A. Montesano & M. Lines (Eds.), Recent Developments in the Foundations of Utility and Risk Theory (pp. 249-262). Dordrecht: Reidel
- - S. Wijers, G. de Jonge & P.P. Wakker (2013, juni 11). Effectieve Dekking zonder Oververzekering. Spits (Personal Finance), pp. 6-6.
  - P.P. Wakker (2012, augustus 9). Risico is geen Nederlands Woord. Het Parool
  - P.P. Wakker (2012, oktober 4). Heffen op Nationale Hobby: Verzekeren. NRC Handelsblad
  - P.P. Wakker (2012, oktober 4). Honder Euro Polisgeld Is Snel Terugverdiend. Algemeen Dagblad
  - E. Boogaards & P.P. Wakker (2009, november 1). Doe de Polis-Check (en Bespaar Geld). Plus Magazine, pp. 28-29.
  - P.P. Wakker (2008, maart 16). Verliesangst is de Drijfveer voor Afsluiten Verzekeren. Postbank NL Vol. 10 no 1, pp. 27-29.
- Gosse Alserda
  Choices in Pension Management
  2013 - 2017
- Zhihua Li
  Irrationality: What, Why and How
  2010 - 2014
- Murat Tarakci
  Behavioral Strategy: Strategic Consensus, Power and Networks
  2008 - 2013
- Martijn van den Assem
  Deal or No Deal? Decision Making under Risk in a Large-Stake TV Game Show and Related Experiments
  2004 - 2008
Journal of Risk and Uncertainty
Role
Editor
Start Date
Jan/1992
Theory and Decision
Role
Associate Editor
Full Professor
University
Erasmus University Rotterdam
School
Erasmus School of Economics
Department
Applied Economics
Country
The Netherlands
Telephone

prof.dr. (Peter) P.P. Wakker

Professor in decision under uncertainty

More information

Profile

All Publications (178)

Article (148)

Scholarly Publication (139)

Semiscientific Publication (8)

Professional Publication (1)

Book / Monograph / Book editorial (2)

Part of book - Chapter (5)

Book review (9)

Article in volume (8)

Contribution weekly / daily journal (6)

PhD list (4)

Gosse Alserda

Zhihua Li

Murat Tarakci

Martijn van den Assem

Editorial positions (2)

Journal of Risk and Uncertainty

Theory and Decision

Present position

Full Professor