P.P. (Peter) Wakker

Full Professor

Department of Econometrics

Erasmus School of Economics

Erasmus University Rotterdam

Member ERIM

Field: Marketing

Affiliated since 2008

T: +31 10 4081265

E: wakker@ese.eur.nl

Personal website.

Peter Wakker is a professor of decisions under uncertainty at the Department of Econometrics of the Erasmus School of Economics (ESE). He works in behavioral economics, primarily on the differences between normative and descriptive decisions, and on decisions under risk and uncertainty.

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 in 2007.

Wakker regularly gives advices on insurance in the media.

Wakker is director, jointly with Professor Han Bleichrodt, of the research group Behavioral Economics.

Publications (149)

Articles (141)

Dimmock, S.G., Kouwenberg, R.R.P. & Wakker, P.P. (2016). Ambiguity Attitudes in a Large Representative Sample. Management Science, 62 (5), 1363-1380. doi: http://dx.doi.org/10.1287/mnsc.2015.2198
Baillon, A., Bleichrodt, H., Liu, N. & Wakker, P.P. (2016). Group Decision Rules and Group Rationality under Risk. Journal of Risk and Uncertainty, 52, 99-116. doi: 10.1007/s11166-016-9237-8
Bleichrodt, H., Kothiyal, Amit, Filko, M. & Wakker, P.P. (2016). Making Case-Based Decision Theory Directly Observable. American Economic Journal. Microeconomics, in press.
Attema, A.E., Bleichrodt, H., Gao, Yu, Huang, Zhenxing & Wakker, P.P. (2016). Measuring Discounting without Measuring Utility. The American Economic Review, 106 (6), 1476-1494. doi: http://dx.doi.org/10.1257/aer.20150208
Bleichrodt, H., Li, C., Moscati, I. & Wakker, P.P. (2016). Nash Was a First to Axiomatize Expected Utility. Theory and Decision, in press.
Chai, J., Li, C., Wakker, P.P., Wang, T.V. & Yang, J. (2016). Reconciling Savage’s and Luce’s Modeling of Uncertainty: The Best of Both Worlds. Journal of Mathematical Psychology, in press.
Bleichrodt, H. & Wakker, P.P. (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]
Bleichrodt, H., Rohde, K.I.M., Spinu, V., Keskin, U. & Wakker, P.P. (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
Sales, C., Wakker, P.P., Alves, P.C.G. & Faísca, L. (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
Wakker, P.P., Li, C. & Li, Z. (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]
Palma, A. de, Abdellaoui, M., Attanasi, G., Ben-Akiva, M., Erev, I., Fehr-Duda, H., Fok, D., Fox, C., Hertwig, R., Picard, N., Wakker, P.P., Walker, J. & Weber, M. (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]
Kothiyal, A., Spinu, V. & Wakker, P.P. (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]
Kothiyal, Amit, Spinu, Vitalie & Wakker, P.P. (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]
Spinu, V. & Wakker, P.P. (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]
Bleichrodt, H., Potter van Loon, R.J.D., Rohde, K.I.M. & Wakker, P.P. (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.
Bleichrodt, H., Kothiyal, A., Prelec, D. & Wakker, P.P. (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]
Attema, A.E., Bleichrodt, H. & Wakker, P.P. (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]
Baillon, A., Driesen, B. & Wakker, P.P. (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
Baltussen, G., Post, G.T., Assem, M.J. van den & Wakker, P.P. (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]
Baillon, A., Cabantous, L. & Wakker, P.P. (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]
van de Kuilen, G. & Wakker, P.P. (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]
Bleichrodt, H., Doctor, J.N., Filko, M. & Wakker, P.P. (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]
Trautmann, S.T., Vieider, F.M. & Wakker, P.P. (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]
Abdellaoui, M., Baillon, A., Placido, L. & Wakker, P.P. (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]
Kothiyal, A., Spinu, V. & Wakker, P.P. (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]
Kothiyal, A., Spinu, V. & Wakker, P.P. (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
Wakker, P.P. (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]
Trautmann, S.T. & Wakker, P.P. (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]
Attema, A.E., Bleichrodt, H., Rohde, K.I.M. & Wakker, P.P. (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
Bleichrodt, H., Rohde, K.I.M. & Wakker, P.P. (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]
Sales, C. & Wakker, P.P. (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
Offerman, T., Sonnemans, J., van de Kuilen, G. & Wakker, P.P. (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]
Wakker, P.P. (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
Wakker, P.P. (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
Bleichrodt, H., Rohde, K.I.M. & Wakker, P.P. (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
Palma, A. de, Ben-Akiva, M., Brownstone, D., Holt, C, Thierry, M., McFadden, D., Moffatt, P., Picard, N., Train, K., Wakker, P.P. & Walker, J. (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]
Bleichrodt, H., Rohde, K.I.M. & Wakker, P.P. (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
Trautmann, S.T., Vieider, F. & Wakker, P.P. (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]
Abdellaoui, M., Barrios, C. & Wakker, P.P. (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
Kobberling, V., Schwieren, C & Wakker, P.P. (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.
Wakker, P.P., Timmermans, D.R.M. & Machielse, I.A. (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]
Diecidue, E., Wakker, P.P. & Zeelenberg, M. (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
Kuilen, G.E. van de & Wakker, P.P. (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
Wakker, P.P. (2005). Decision-Foundations for Properties of Nonadditive Measures for General State Spaces or for General Outcome Spaces. Games and Economic Behavior, 50, 107-125.
Kobberling, V. & Wakker, P.P. (2005). An Index of Loss Aversion. Journal of Economic Theory, 122, 119-131.
Abdellaoui, M. & Wakker, P.P. (2005). The Likelihood Method for Decision under Uncertainty. Theory and Decision, 58, 3-76.
van Osch, S.M.C., Wakker, P.P., van den Hout, W. & Stiggelbout, AM (2004). Correcting Biases in Standard Gamble and Time Tradeoff Utilities. Medical Decision Making, 24, 511-517.
Kobberling, V. & Wakker, P.P. (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.
Diecidue, E., Schmidt, U. & Wakker, P.P. (2004). The Utility of Gambling Reconsidered. Journal of Risk and Uncertainty, 29, 241-259.
Wakker, P.P., Jansen, S.J.T. & Stiggelbout, AM (2004). Anchor Levels as a New Tool for the Theory and Measurement of Multiattribute Utility. Decision Analysis, 1, 217-234.
Wakker, P.P. (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
Wakker, P.P. (2003). The Data of Levy and Levy (2002) "Prospect Theory: Much Ado about Nothing?" Actually Support Prospect Theory. Management Science, 49, 979-981.
Kobberling, V. & Wakker, P.P. (2003). Preference Foundations for Nonexpected Utility: A Generalized and Simplified Technique. Mathematics of Operations Research, 28, 395-423.
Diecidue, E. & Wakker, P.P. (2002). Dutch Books: Avoiding Strategic and Dynamic Complications, and a Comonotonic Extension. Mathematical Social Sciences, 43, 135-149.
Gilboa, I., Schmeidler, D. & Wakker, P.P. (2002). Utility in Case-Based Decision Theory. Journal of Economic Theory, 105, 483-502.
Wakker, P.P. & Zank, H. (2002). A Simple Preference-Foundation of Cumulative Prospect Theory with Power Utility. European Economic Review, 46, 1253-1271.
Wakker, P.P. (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.
Post, P.N., Siggelbout, A.M. & Wakker, P.P. (2001). The Utility of Health States Following Stroke; a Systematic Review of the Literature. Stroke, 32, 1425-1429.
De Waegenaere, A. & Wakker, P.P. (2001). Nonmonotonic Choquet Integrals. Journal of Mathematical Economics, 36, 45-60.
Diecidue, E. & Wakker, P.P. (2001). On the Intuition of Rank-Dependent Utility. Journal of Risk and Uncertainty, 23, 281-298.
Wakker, P.P. (2001). Testing and Characterizing Properties of Nonadditive Measures through Violations of the Sure-Thing Principle. Econometrica, 69, 1039-1059.
Bleichrodt, H., Pinto, J.L. & Wakker, P.P. (2001). Making Descriptive Use of Prospect Theory to Improve the Prescriptive Use of Expected Utility. Management Science, 47 (11), 1498-1514.
Wakker, P.P. (2000). Uncertainty Aversion: A Discussion of Critical Issues in Health Economics. Health Economics, 9, 261-263.
Sarin, R.K. & Wakker, P.P. (2000). Cumulative Dominance and Probabilistic Sophistication. Mathematical Social Sciences, 40, 191-196.
Wakker, P.P. (2000). Dempster Belief Functions Are Based on the Principle of Complete Ignorance. International Journal of Uncertainty Fuzziness and Knowledge-Based Systems, 8, 271-284.
Jansen, S.J.T., Stiggelbout, AM, Wakker, P.P., Nooij, A.N., Noordijk, E.M. & Kievit, J. (2000). Unstable Preferences: A Shift in Valuation or an Effect of the Elicitation Procedure? Medical Decision Making, 20, 62-71.
Wakker, P.P. & Zank, H. (1999). State Dependent Expected Utility for Savage's State Space. Mathematics of Operations Research, 24, 8-34.
Chateauneuf, A. & Wakker, P.P. (1999). An Axiomatization of Cumulative Prospect Theory for Decision under Risk. Journal of Risk and Uncertainty, 18, 137-145.
Wakker, P.P. & Zank, H. (1999). A Unified Derivation of Classical Subjective Expected Utility Models through Cardinal Utility. Journal of Mathematical Economics, 32, 1-19.
Miyamoto, J.M., Wakker, P.P., Bleichrodt, H. & Peters, H.J.M. (1998). The Zero-Condition: A Simplifying Assumption in QALY Measurement and Multiattribute Utility. Management Science, 44, 839-849.
Sarin, R.K. & Wakker, P.P. (1998). Dynamic Choice and Nonexpected Utility. Journal of Risk and Uncertainty, 17, 87-119.
Sarin, R.K. & Wakker, P.P. (1998). Revealed Likelihood and Knightian Uncertainty. Journal of Risk and Uncertainty, 16, 223-250. doi: http://dx.doi.org/1007703002999
Jansen, S.J.T., Siggelbout, A.M., Wakker, P.P., Vliet Vlieland, T.P.M., Leer, J.W.H., Nooy, M.A. & Kievit, J. (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
Bleichrodt, H., Wakker, P.P. & Johannesson, M. (1997). Characterizing QALYs by Risk Neutrality. Journal of Risk and Uncertainty, 15 (15), 107-114.
Sarin, R.K. & Wakker, P.P. (1997). A Single-Stage Approach to Anscombe and Aumann's Expected Utility. Review of Economic Studies, 64, 399-409.
Fennema, H. & Wakker, P.P. (1997). Original and Cumulative Prospect Theory: A Discussion of Empirical Differences. Journal of Behavioral Decision Making, 10, 53-64.
Stalmeier, PFM, Wakker, P.P. & Bezembinder, Th.G.G. (1997). Preference Reversals: Violations of Unidimensional Procedure Invariance. Journal of Experimental Psychology-Human Perception and Performance, 23, 1196-1205.
Wakker, P.P., Thaler, R.H. & Tversky, A. (1997). Probabilistic Insurance. Journal of Risk and Uncertainty, 15, 7-28. doi: http://dx.doi.org/1007799303256
Kahneman, D., Wakker, P.P. & Sarin, R.K. (1997). Back to Bentham? Explorations of Experienced Utility. The Quarterly Journal of Economics, 112, 375-405. doi: http://dx.doi.org/10.1162/003355397555235
Wakker, P.P. & Deneffe, D. (1996). Eliciting von Neumann-Morgenstern Utilities when Probabilities Are Distorted or Unknown. Management Science, 42, 1131-1150.
Wakker, P.P. (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
Wakker, P.P. (1996). A Criticism of Healthy-Years Equivalents. Medical Decision Making, 16, 207-214.
Fennema, H. & Wakker, P.P. (1996). A Test of Rank-Dependent Utility in the Context of Ambiguity. Journal of Risk and Uncertainty, 13, 19-35.
Peters, H.J.M. & Wakker, P.P. (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
Miyamoto, J. & Wakker, P.P. (1996). Multiattribute Utility Theory without Expected Utility Foundations. Operations Research, 44, 313-326.
Chew, S.H. & Wakker, P.P. (1996). The Comonotonic Sure-Thing Principle. Journal of Risk and Uncertainty, 12, 5-27. doi: http://dx.doi.org/10.1007/BF00353328
Deneffe, D. & Wakker, P.P. (1996). Mergers, Strategic Investments and Antitrust Policy. Managerial and Decision Economics, 17, 231-240.
Maas, A.I.R., Bezembinder, Th.G.G. & Wakker, P.P. (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
Wakker, P.P. & Stiggelbout, AM (1995). Explaining Distortions in Utility Elicitation through the Rank-Dependent Model for Risky Choices. Medical Decision Making, 15, 180-186.
Wakker, P.P. & Klaassen, M.P. (1995). Confidence Intervals for Cost/Effectiveness Ratios. Health Economics, 4, 373-381.
Tversky, A. & Wakker, P.P. (1995). Risk Attitudes and Decision Weights. Econometrica, 63, 1255-1280.
Timmermans, D.R.M., Politser, P. & Wakker, P.P. (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.
Fishburn, P.C., & Wakker, P.P. (1995). The Invention of the Independence Condition for Preferences. Management Science, 41, 1130-1144.
Sarin, R.K. & Wakker, P.P. (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.
Quiggin, J. & Wakker, P.P. (1994). The Axiomatic Basis of Anticipated Utility; A Clarification. Journal of Economic Theory, 64, 486-499.
Maas, A.I.R. & Wakker, P.P. (1994). Additive Conjoint Measurement for Multiattribute Utility. Journal of Mathematical Psychology, 38, 86-101.
Peters, H.J.M. & Wakker, P.P. (1994). WARP Does not Imply SARP for More Than Two Commodities. Journal of Economic Theory, 62, 152-160.
Sarin, R.K. & Wakker, P.P. (1994). A General Result for Quantifying Beliefs. Econometrica, 62, 683-685.
Sarin, R.K. & Wakker, P.P. (1994). Folding Back in Decision Tree Analysis. Management Science, 40, 625-628.
Wakker, P.P., Erev, I. & Weber, E.U. (1994). Comonotonic Independence: The Critical Test between Classical and Rank-Dependent Utility Theories. Journal of Risk and Uncertainty, 9, 195-230.
Wakker, P.P. (1994). Separating Marginal Utility and Probabilistic Risk Aversion. Theory and Decision, 36, 1-44. doi: http://dx.doi.org/10.1007/BF01075296
Fennema, H. & Wakker, P.P. (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.
Chew, S.H., Epstein, L.G. & Wakker, P.P. (1993). A Unifying Approach to Axiomatic Non-Expected Utility Theories: Correction and Comment. Journal of Economic Theory, 59, 183-188.
Wakker, P.P. (1993). Additive Representations on Rank-Ordered Sets II. The Topological Approach. Journal of Mathematical Economics, 22, 1-26.
Wakker, P.P. (1993). Unbounded Utility for Savage's Foundations of Statistics, and other Models. Mathematics of Operations Research, 18, 446-485.
Wakker, P.P. (1993). Savage's Axioms Usually Imply Violation of Strict Stochastic Dominance. Review of Economic Studies, 60, 487-493.
Wakker, P.P. & Tversky, A. (1993). An Axiomatization of Cumulative Prospect Theory. Journal of Risk and Uncertainty, 7, 147-176.
Chateauneuf, A. & Wakker, P.P. (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
Jaffray, J.Y. & Wakker, P.P. (1993). Decision Making with Belief Functions: Compatibility and Incompatibility with the Sure-Thing Principle. Journal of Risk and Uncertainty, 7, 255-271.
Wakker, P.P. (1993). Clarification of some Mathematical Misunderstandings about Savage's Foundations of Statistics, 1954. Mathematical Social Sciences, 25, 199-202.
Wakker, P.P. (1993). Counterexamples to Segal's Measure Representation Theorem. Journal of Risk and Uncertainty, 6, 91-98.
Wakker, P.P. (1992). Characterizing Stochastically Monotone Functions by Multi-Attribute Utility Theory. Economic Theory, 2, 565-566. doi: http://dx.doi.org/10.1007/BF01212477
Sarin, R.K. & Wakker, P.P. (1992). A Simple Axiomatization of Nonadditive Expected Utility. Econometrica, 60, 1255-1272.
Wakker, P.P. (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
Wakker, P.P. (1991). Continuity of Transformations. Journal of Mathematical Analysis and Applications, 162, 1-6.
Peters, H.J.M. & Wakker, P.P. (1991). Independence of Irrelevant Alternatives and Revealed Group Preferences. Econometrica, 59, 1787-1801.
Wakker, P.P. (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.
Wakker, P.P. (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
Wakker, P.P. (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
Wakker, P.P. (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
Wakker, P.P. (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
Wakker, P.P. (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
Wakker, P.P. (1989). A Graph-Theoretic Approach to Revealed Preference. Methodology and Science, 22, 53-66.
Wakker, P.P. (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
Wakker, P.P. (1989). Transforming Probabilities without Violating Stochastic Dominance. In E.E.Ch.I. Roskam (Ed.), Mathematical Psychology in Progress (pp. 29-47). Berlin: Springer.
Wakker, P.P. (1989). Subjective Expected Utility with Non-Increasing Risk Aversion. Annals of Operations Research, 19, 219-228. doi: http://dx.doi.org/10.1007/BF02283522
Wakker, P.P. (1988). Continuity of Preference Relations for Separable Topologies. International Economic Review, 29, 105-110.
Wakker, P.P. (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
Wakker, P.P. (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
Wakker, P.P. (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.
Wakker, P.P. (1988). Nonexpected Utility as Aversion of Information. Journal of Behavioral Decision Making, 1, 169-175.
Wakker, P.P. (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
Peters, H.J.M. & Wakker, P.P. (1987). Convex Functions on Non-Convex Domains. Economics Letters, 22, 251-255. doi: http://dx.doi.org/10.1016/0165-1765(86)90242-9
Wakker, P.P. (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.
Wakker, P.P. (1986). The Repetitions Approach to Characterize Cardinal Utility. Theory and Decision, 20, 33-40.
Wakker, P.P., Peters, H.J.M. & van Riel, T.B.P.L. (1986). Comparisons of Risk Aversion, with an Application to Bargaining. Methods of Operations Research, 54, 307-320.
Wakker, P.P. (1985). Extending Monotone and Non-Expansive Mappings by Optimization. Cahiers du C.E.R.O., 27, 141-149.
Wakker, P.P. (1985). Continuous Expected Utility for Arbitrary State Spaces. Methods of Operations Research, 50, 113-129.
Wakker, P.P. (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
de Koster, R., Peters, H.J.M., Tijs, S.H. & Wakker, P.P. (1983). Risk Sensitivity, Independence of Irrelevant Alternatives and Continuity of Bargaining Solutions. Mathematical Social Sciences, 4, 295-300.
Wakker, P.P. (1981). Agreeing Probability Measures for Comparative Probability Structures. Annals of Statistics, 9, 658-662.

Books (2)

Wakker, P.P. (2010). Prospect Theory: For Risk and Ambiguity. Cambridge, UK: Cambridge University Press.
Wakker, P.P. (1989). Additive Representations of Preferences, A New Foundation of Decision Analysis. Dordrecht: Kluwer Academic Publishers.

Book Contributions (5)

Peters, H.J.M. & Wakker, P.P. (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.
Wakker, P.P. (2008). Uncertainty. In L. Blume & S.N. Durlauf (Eds.), The New Palgrave: A Dictionary of Economics (8) (pp. 428-439). Basingstoke: Palgrave MacMillan.
Wakker, P.P. (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.
Wakker, P.P. (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.
Schmeidler, D. & Wakker, P.P. (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.