Theory of Decision under Uncertainty

Itzhak Gilboa is Professor in the Berglas School of Economics, Tel-Aviv University, and Professor in the newly established Department of Economics and Decision Science, HEC, Paris. Earlier, he became a chaired professor at Northwestern University in 1992, visited at the Department of Economics, University of Pennsylvania (1995–7), and was a Professor at Boston University (1997–9). Professor Gilboa also served as a Fellow at the Cowles Foundation at Yale University from 2001 to 2007. The recipient of a Sloan Fellowship, among other awards, he has published articles in the leading economic theory journals, primarily on decision under uncertainty. Professor Gilboa coauthored A Theory of Case-Based Decisions with David Schmeidler (Cambridge University Press, 2001). He received his Ph.D. from Tel-Aviv University in 1987.

• 1. Preface; 2. Motivating examples; 3. Free will and determinism; 4. The principle of indifference; 5. Relative frequencies; 6. Subjective probabilities; 7. A case study; 8. The role of theories; 9. Von Neumann and Morgenstern's theorem; 10. De Finetti's theorem; 11. Savage's theorem; 12. The definition of states; 13. A critique of Savage; 14. Objectivity and rationality; 15. Anscombe-Aumann's theorem; 16. Choquet expected utility; 17. Prospect theory; 18. Maxmin expected utility; 19. Case-based qualitative beliefs; 20. Frequentism revisited; 21. Future research.

'This is a fantastic book. It presents an intelligent, rigorous, and thought-provoking treatment of the theory of choice under uncertainty. The combination of philosophical and mathematical approaches is a treat. Graduate students and professional economists alike have much to learn from this book.' Daron Acemoglu, Massachusetts Institute of Technology