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

Professor in decision under uncertainty

Full Professor Erasmus School of Economics Applied Economics

Location: Erasmus University Rotterdam
Room: N 1-09
Telephone: +31 10 4081265
Email: wakker@ese.eur.nl

Profile

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…

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 frequently gives advices on insurance in the media.

Wakker is a director of the research group Behavioral Economics.

- - - C. Li, U. Turmunkh & P.P. Wakker (2019). Trust as a Decision under Ambiguity. Experimental Economics, 22, 51-75. doi: 10.1007/s10683-018-9582-3
    - P.P. Wakker & J. Yang (2019). A Powerful Tool for Analyzing Concave/Convex Utility and Weighting Functions. Journal of Economic Theory, in press.
    - 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, 86 (5), 1839-1858. doi: 10.3982/ECTA14370
    - S.T. Trautmann & P.P. Wakker (2018). Making the Anscombe-Aumann Approach to Ambiguity Suitable for Descriptive Applications. Journal of Risk and Uncertainty, 56 (1), 83-116. doi: 10.1007/s11166-018-9273-7
    - 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: 10.1257/mic.20150172
    - 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
    - Z. Li, J. Muller, P.P. Wakker & T. Wang (2017). The Rich Domain of Ambiguity Explored. Management Science, 64 (7), 3227-3240. doi: 10.1287/mnsc.2017.2777
    - 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: 10.1257/aer.20150208
    - 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: 10.1016/j.jmp.2015.10.007
    - 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: 10.1007/s11166-016-9237-8
    - 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: 10.1007/s11238-016-9542-3
    - 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: 10.1287/mnsc.2015.2198
    - H. Bleichrodt & P.P. Wakker (2015). Regret Theory: A Bold Alternative to the Alternatives. The Economic Journal, 125, 493-532. doi: 10.1111/ecoj.12200
    - 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: 10.1287/opre.2015.1433
    - 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: 10.18637/jss.v065.c02
    - 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: 10.1007/s11166-014-9185-0
    - A. Kothiyal, V. Spinu & P.P. Wakker (2014). Average Utility Maximization: A Preference Foundation. Operations Research, 62 (1), 207-218. doi: 10.1287/opre.2013.1230
    - 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: 10.1007/s11002-014-9316-z
    - 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: 10.1007/s11238-013-9375-2
    - 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: 10.1016/j.jmp.2013.04.002
    - 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: 10.1016/j.jmateco.2012.09.005
    - 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, B. Driesen & P.P. Wakker (2012). Relative Concave Utility for Risk and Ambiguity. Games and Economic Behavior, 75 (2), 481-489. doi: 10.1016/j.geb.2012.01.006
    - 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: 10.1007/s10683-011-9306-4
    - 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: 10.1177/0272989X12451654
    - 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: 10.1007/s11166-012-9140-x
    - 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: 10.1002/mcda.454
    - P.P. Wakker (2011). Jaffray's Ideas on Ambiguity. Theory and Decision, 71 (1), 11-22. doi: 10.1007/s11238-010-9209-4
    - 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: 10.1007/s11166-011-9118-0
    - 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: 10.1257/aer.101.2.695
    - S.T. Trautmann, F.M. Vieider & P.P. Wakker (2011). Preference Reversals for Ambiguity Aversion. Management Science, 57 (7), 1320-1333. doi: 10.1287/mnsc.1110.1343
    - 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: 10.1016/j.jmp.2011.08.001
    - 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: 10.1287/mnsc.1100.1282
    - 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: 10.1287/mnsc.1100.1219
    - S.T. Trautmann & P.P. Wakker (2010). Process Fairness and Dynamic Consistency. Economics Letters, 109 (3), 187-189. doi: 10.1016/j.econlet.2010.08.031
    - H. Bleichrodt, K.I.M. Rohde & P.P. Wakker (2009). Non-Hyperbolic Time Inconsistency. Games and Economic Behavior, 66 (1), 27-38. doi: 10.1016/j.geb.2008.05.007
    - 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: 10.1348/000711008X376070
    - 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: 10.1111/j.1467-937X.2009.00557.x
    - P.P. Wakker (2008). Explaining the Characteristics of the Power (CRRA) Utility Family. Health Economics, 17 (12), 1329-1344. doi: 10.1002/hec.1331
    - P.P. Wakker (2008). Lessons Learned by (from?) an Economists Working in Medical Decision Making. Medical Decision Making, 28, 690-698. doi: 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: 10.1016/j.jmp.2008.05.003
    - 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: 10.1007/s11002-008-9047-0
    - 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: 10.1016/j.jmp.2008.04.005
    - 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: 10.1007/s11166-008-9038-9
    - 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: 10.1287/mnsc.1070.0735
    - 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: 10.1016/j.jeconom.2006.05.025
    - 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.
    - 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: 10.1007/s11166-007-9011-z
    - G.E. van de Kuilen & P.P. Wakker (2006). Learning in the Allais Paradox. Journal of Risk and Uncertainty, 33, 155-164. doi: 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.
    - E. Diecidue, U. Schmidt & P.P. Wakker (2004). The Utility of Gambling Reconsidered. Journal of Risk and Uncertainty, 29, 241-259.
    - 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.
    - P.P. Wakker (2004). On the Composition of Risk Preference and Belief. Psychological Review, 111, 236-241. doi: 10.1037/0033-295X.111.1.236
    - 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.
    - 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.
    - 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.
    - 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 & H. Zank (2002). A Simple Preference-Foundation of Cumulative Prospect Theory with Power Utility. European Economic Review, 46, 1253-1271.
    - I. Gilboa, D. Schmeidler & P.P. Wakker (2002). Utility in Case-Based Decision Theory. Journal of Economic Theory, 105, 483-502.
    - E. Diecidue & P.P. Wakker (2002). Dutch Books: Avoiding Strategic and Dynamic Complications, and a Comonotonic Extension. Mathematical Social Sciences, 43, 135-149.
    - 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.
    - A. De Waegenaere & P.P. Wakker (2001). Nonmonotonic Choquet Integrals. Journal of Mathematical Economics, 36, 45-60.
    - 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.
    - 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). Uncertainty Aversion: A Discussion of Critical Issues in Health Economics. Health Economics, 9, 261-263.
    - R.K. Sarin & P.P. Wakker (2000). Cumulative Dominance and Probabilistic Sophistication. Mathematical Social Sciences, 40, 191-196.
    - 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.
    - 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: 10.1177/0272989X9801800406
    - R.K. Sarin & P.P. Wakker (1998). Revealed Likelihood and Knightian Uncertainty. Journal of Risk and Uncertainty, 16, 223-250. [go to publisher's site]
    - 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. [go to publisher's site]
    - 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: 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.J.M. Peters & P.P. Wakker (1996). Cycle-Preserving Extension of Demand Functions to New Commodities. Journal of Mathematical Economics, 25, 281-290. doi: 10.1016/0304-4068(95)00733-4
    - 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.
    - S.H. Chew & P.P. Wakker (1996). The Comonotonic Sure-Thing Principle. Journal of Risk and Uncertainty, 12, 5-27. doi: 10.1007/BF00353328
    - D. Deneffe & P.P. Wakker (1996). Mergers, Strategic Investments and Antitrust Policy. Managerial and Decision Economics, 17, 231-240.
    - P.P. Wakker (1996). A Criticism of Healthy-Years Equivalents. Medical Decision Making, 16, 207-214.
    - 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: 10.1016/0304-4068(95)00721-0
    - P.P. Wakker & D. Deneffe (1996). Eliciting von Neumann-Morgenstern Utilities when Probabilities Are Distorted or Unknown. Management Science, 42, 1131-1150.
    - J. Miyamoto & P.P. Wakker (1996). Multiattribute Utility Theory without Expected Utility Foundations. Operations Research, 44, 313-326.
    - P.C.,. Fishburn & P.P. Wakker (1995). The Invention of the Independence Condition for Preferences. Management Science, 41, 1130-1144.
    - A. Tversky & P.P. Wakker (1995). Risk Attitudes and Decision Weights. Econometrica, 63, 1255-1280.
    - P.P. Wakker & M.P. Klaassen (1995). Confidence Intervals for Cost/Effectiveness Ratios. Health Economics, 4, 373-381.
    - 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.
    - 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: 10.1016/0165-4896(94)00769-5
    - 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: 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.
    - A. Chateauneuf & P.P. Wakker (1993). From Local to Global Additive Representation. Journal of Mathematical Economics, 22, 523-545. doi: 10.1016/0304-4068(93)90002-3
    - 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). Counterexamples to Segal's Measure Representation Theorem. Journal of Risk and Uncertainty, 6, 91-98.
    - P.P. Wakker & A. Tversky (1993). An Axiomatization of Cumulative Prospect Theory. Journal of Risk and Uncertainty, 7, 147-176.
    - 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). Unbounded Utility for Savage's Foundations of Statistics, and other Models. Mathematics of Operations Research, 18, 446-485.
    - P.P. Wakker (1993). Additive Representations on Rank-Ordered Sets II. The Topological Approach. Journal of Mathematical Economics, 22, 1-26.
    - 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.
    - 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.
    - P.P. Wakker (1992). Characterizing Stochastically Monotone Functions by Multi-Attribute Utility Theory. Economic Theory, 2, 565-566. doi: 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 Representations on Rank-Ordered Sets. I. The Algebraic Approach. Journal of Mathematical Psychology, 35, 501-531. doi: 10.1016/0022-2496(91)90045-U
    - 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 Representation for Equally Spaced Structures. Journal of Mathematical Psychology, 260-266. doi: 10.1016/0022-2496(91)90028-R
    - P.P. Wakker (1990). A Behavioral Foundation for Fuzzy Measures. Fuzzy Sets & Systems, 37, 327-350. doi: 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: 10.1007/BF00126589
    - P.P. Wakker (1990). Characterizing Optimism and Pessimism Directly hrough Comonotonicity. Journal of Economic Theory, 52, 453-463. doi: 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: 10.1007/BF02283522
    - P.P. Wakker (1989). A Graph-Theoretic Approach to Revealed Preference. Methodology and Science, 22, 53-66.
    - P.P. Wakker (1989). Nonexpected Utility as Aversion of Information: A Discussion. Journal of Behavioral Decision Making, 2, 197-202. doi: 10.1002/bdm.3960020306
    - P.P. Wakker (1989). Continuous Subjective Expected Utility with Nonadditive Probabilities. Journal of Mathematical Economics, 18, 1-27. doi: 10.1016/0304-4068(89)90002-5
    - P.P. Wakker (1988). Derived Strength of Preference Relations on Coordinates. Economics Letters, 28, 301-306. doi: 10.1016/0165-1765(88)90002-X
    - 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: 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 (1987). Subjective Probabilities for State-Dependent Continuous Utility. Mathematical Social Sciences, 14, 289-298. doi: 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: 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). Continuous Expected Utility for Arbitrary State Spaces. Methods of Operations Research, 50, 113-129.
    - P.P. Wakker (1985). Extending Monotone and Non-Expansive Mappings by Optimization. Cahiers du C.E.R.O., 27, 141-149.
    - P.P. Wakker (1984). Cardinal Coordinate Independence for Expected Utility. Journal of Mathematical Psychology, 28, 110-117. doi: 10.1016/0022-2496(84)90021-X
    - M.B.M. 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 (3), 295-300. doi: 10.1016/0165-4896(83)90031-8
    - 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.
    - N. Vrieselaar, R. Koijen & P.P. Wakker (2014). Sparen voor de Dood. Elsevier, 70 (47), 73-73.
    - F. de Raat, E. Hordijk & P.P. Wakker (2014). Laat het Los, Al Die Verzekeringen. NRC Handelsblad, E18-E19.
    - R. Stallinga & P.P. Wakker (2013). Wie nooit wil verliezen, mist veel kansen. Safe (Robeco), 2013#2 (02), 26-26.
    - R. Boere & P.P. Wakker (2012). Honderd Euro Polisgeld Is Snel Terugverdiend. Algemeen Dagblad, 4 Oct 2012, 4-4.
    - J. Wester & P.P. Wakker (2012). Heffen op Nationale Hobby: Verzekeren. NRC Handelsblad, 9-9.
    - 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). 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 (2000). Book Review [Bespreking van het boek Handbook of Utility Theory; Vol. 1]. The Journal of Economic Literature, 38, 638-639.
  - 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
  - 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
  - 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
  - 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). Honder Euro Polisgeld Is Snel Terugverdiend. Algemeen Dagblad
  - P.P. Wakker (2012, oktober 4). Heffen op Nationale Hobby: Verzekeren. NRC Handelsblad
  - 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.
Behavioral Decision Theory
Title
Behavioral Decision Theory
Year
2018
Year level
(master)
Risk and Rationality
Title
Risk and Rationality
Year
2018
Year level
(Master)
Microeconomics II (Game Theory)
Title
Microeconomics II (Game Theory)
Year
2018
Year level
(Master)
Microeconomics IV (Behavioral Economics)
Title
Microeconomics IV (Behavioral Economics)
Year
2018
Year level
(Master)
- Xiao Yu
  Attitudes towards intertemporal correlation
  2016 -
- Aysil Emirmahmutoglu
  Zooming in on ambiguity attitudes
  2015 -
- 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 approval
Jan/1992
Theory and Decision
Role
Associate Editor
Full Professor
University
Erasmus University Rotterdam
School
Erasmus School of Economics
Department
Applied Economics
Country
Nederland
Telephone
+31 10 4081265

Address

Visiting address

Burg. Oudlaan 50 3062 PA Rotterdam

Postal address

Postbus 1738 3000 DR Rotterdam

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

Professor in decision under uncertainty

More information

Profile

All publications (180)

Article (150)

Scholarly Publication (141)

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)

Teaching (4)

Behavioral Decision Theory

Risk and Rationality

Microeconomics II (Game Theory)

Microeconomics IV (Behavioral Economics)

PhD list (6)

Xiao Yu

Aysil Emirmahmutoglu

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

Address

Visiting address

Postal address