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

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

Professor in decision under uncertainty

Full Professor Erasmus School of Economics Applied Economics
Erasmus University Rotterdam

Latest academic publication

S.T. Trautmann & P.P. Wakker (2018). Making the Anscombe-Aumann Approach to Ambiguity Suitable for Descriptive Applications. Journal of Risk and Uncertainty, in press.

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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.

      • 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
      • 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 (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
      • 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). Expected versus Nonexpected Utility: The State of the Art [Bespreking van het boek Utility measurements and Applications]. Journal of Mathematical Psychology, 38, 521-524.
      • 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.
      • 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). 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.
  • Full Professor

    Erasmus University Rotterdam
    Erasmus School of Economics
    Applied Economics
    The Netherlands
  • Journal of Risk and Uncertainty

    Start Date

    Theory and Decision

    Associate Editor
    • Irrationality: What, Why and How

      Zhihua Li

      Irrationality: What, Why and How