Prof. dr. P.P. (Peter) Wakker

Full Professor

Department of Econometrics

Erasmus School of Economics (ESE)

Erasmus University Rotterdam

Member ERIM

Field: Marketing

Affiliated since 2008

T: +31 10 4081265

E: wakker@ese.eur.nl

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.

Personal website.

Publications (156)

Articles (148)

P.P. Wakker & J. Yang (2019). A Powerful Tool for Analyzing Concave/Convex Utility and Weighting Functions. Journal of Economic Theory, 181 , 143-159. doi: 10.1016/j.jet.2019.02.008
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
Z. Li, J. Muller, P.P. Wakker & T. Wang (2018). The Rich Domain of Ambiguity Explored. Management Science, 64 (7), 3227-3240. 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
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
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
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.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
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
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, 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
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
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
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 , 1-10. doi: 10.18637/jss.v065.c02
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 (3), 297-315. doi: 10.1007/s11238-013-9375-2
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
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. 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
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.
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
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
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.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
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
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
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
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
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). 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
A. Kothiyal, V. Spinu & P.P. Wakker (2011). Prospect Theory for Continuous Distributions: A Preference Foundation. Journal of Risk and Uncertainty, 42 (3), 195-210. doi: 10.1007/s11166-011-9118-0
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
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
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
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). 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
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 (2008). Lessons Learned by (from?) an Economists Working in Medical Decision Making. Medical Decision Making, 28 , 690-698. doi: 10.1177/0272989X08323916
P.P. Wakker (2008). Explaining the Characteristics of the Power (CRRA) Utility Family. Health Economics, 17 (12), 1329-1344. doi: 10.1002/hec.1331
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
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
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
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.
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
M. Abdellaoui & P.P. Wakker (2005). The Likelihood Method for Decision under Uncertainty. Theory and Decision, 58 , 3-76.
V. Kobberling & P.P. Wakker (2005). An Index of Loss Aversion. Journal of Economic Theory, 122 , 119-131.
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.
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
E. Diecidue, U. Schmidt & P.P. Wakker (2004). The Utility of Gambling Reconsidered. Journal of Risk and Uncertainty, 29 , 241-259.
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.
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.
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 (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
E. Diecidue & P.P. Wakker (2002). Dutch Books: Avoiding Strategic and Dynamic Complications, and a Comonotonic Extension. Mathematical Social Sciences, 43 , 135-149.
I. Gilboa, D. Schmeidler & P.P. Wakker (2002). Utility in Case-Based Decision Theory. Journal of Economic Theory, 105 , 483-502.
P.P. Wakker & H. Zank (2002). A Simple Preference-Foundation of Cumulative Prospect Theory with Power Utility. European Economic Review, 46 , 1253-1271.
P.P. Wakker (2001). Testing and Characterizing Properties of Nonadditive Measures through Violations of the Sure-Thing Principle. Econometrica, 69 , 1039-1059.
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.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.
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.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.
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). A Unified Derivation of Classical Subjective Expected Utility Models through Cardinal Utility. Journal of Mathematical Economics, 32 , 1-19.
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.
H. Bleichrodt, P.P. Wakker & M. Johannesson (1997). Characterizing QALYs by Risk Neutrality. Journal of Risk and Uncertainty, 15 (15), 107-114.
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.
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.
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
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.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
S.H. Chew & P.P. Wakker (1996). The Comonotonic Sure-Thing Principle. Journal of Risk and Uncertainty, 12 , 5-27. doi: 10.1007/BF00353328
J. Miyamoto & P.P. Wakker (1996). Multiattribute Utility Theory without Expected Utility Foundations. Operations Research, 44 , 313-326.
P.P. Wakker & D. Deneffe (1996). Eliciting von Neumann-Morgenstern Utilities when Probabilities Are Distorted or Unknown. Management Science, 42 , 1131-1150.
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.
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
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.
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
P.C.,. Fishburn & P.P. Wakker (1995). The Invention of the Independence Condition for Preferences. Management Science, 41 , 1130-1144.
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
A. Tversky & P.P. Wakker (1995). Risk Attitudes and Decision Weights. Econometrica, 63 , 1255-1280.
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.
P.P. Wakker & M.P. Klaassen (1995). Confidence Intervals for Cost/Effectiveness Ratios. Health Economics, 4 , 373-381.
R.K. Sarin & P.P. Wakker (1994). A General Result for Quantifying Beliefs. Econometrica, 62 , 683-685.
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.
R.K. Sarin & P.P. Wakker (1994). Folding Back in Decision Tree Analysis. Management Science, 40 , 625-628.
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
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.
J. Quiggin & P.P. Wakker (1994). The Axiomatic Basis of Anticipated Utility; A Clarification. Journal of Economic Theory, 64 , 486-499.
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 (1993). Counterexamples to Segal's Measure Representation Theorem. Journal of Risk and Uncertainty, 6 , 91-98.
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.
P.P. Wakker (1993). Clarification of some Mathematical Misunderstandings about Savage's Foundations of Statistics, 1954. Mathematical Social Sciences, 25 , 199-202.
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 (1993). Additive Representations on Rank-Ordered Sets II. The Topological Approach. Journal of Mathematical Economics, 22 , 1-26.
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). Savage's Axioms Usually Imply Violation of Strict Stochastic Dominance. Review of Economic Studies, 60 , 487-493.
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 & A. Tversky (1993). An Axiomatization of Cumulative Prospect Theory. Journal of Risk and Uncertainty, 7 , 147-176.
R.K. Sarin & P.P. Wakker (1992). A Simple Axiomatization of Nonadditive Expected Utility. Econometrica, 60 , 1255-1272.
P.P. Wakker (1992). Characterizing Stochastically Monotone Functions by Multi-Attribute Utility Theory. Economic Theory, 2 , 565-566. doi: 10.1007/BF01212477
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 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.
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 (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 (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 (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 (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 (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). 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 (1988). Nonexpected Utility as Aversion of Information. Journal of Behavioral Decision Making, 1 , 169-175.
P.P. Wakker (1988). Continuity of Preference Relations for Separable Topologies. International Economic Review, 29 , 105-110.
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). Derived Strength of Preference Relations on Coordinates. Economics Letters, 28 , 301-306. doi: 10.1016/0165-1765(88)90002-X
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 (1986). The Repetitions Approach to Characterize Cardinal Utility. Theory and Decision, 20 , 33-40.
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). 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
P.P. Wakker (1985). Extending Monotone and Non-Expansive Mappings by Optimization. Cahiers du C.E.R.O., 27 , 141-149.
P.P. Wakker (1985). Continuous Expected Utility for Arbitrary State Spaces. Methods of Operations Research, 50 , 113-129.
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.

Books (2)

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

Book Contributions (5)

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