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New publication: “Theories of decision-making under uncertainty”

Jürgen Kähler and Christoph Weber published a paper on the theory of decisions under uncertainty. This paper is published in Wirtschaftswissenschaftliches Studium (WiSt) 44 (10), pp. 572-578. From the abstract: “Decisions of individuals are at the center of many economic theories, like the micro-economic theory of consumption or the financial portfolio theory. These decisions depend to a large extent on the degree of risk and uncertainty, under which they have to be made. The prevailing theory for explaining decisions under uncertainty is still the theory on expected utility. In addition, other theories are now established, explaining aversion for risk and uncertainty.”