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

Erasmus School of Economics (ESE)
Erasmus University Rotterdam
Member ERIM
Field: Marketing
Affiliated since 2008

Peter Wakker is professor of decision under uncertainty at Behavioral Econ. of Erasmus School of Econ. (ESE). He works in behavioral economics and on risk/ambiguity. He has published in leading journals in economics, business, medicine, psychology, statistics, and mathematics. He was the best-publishing Dutch economist in 1994, 1998, 2003, and 2007, and collaborated with three Nobel-prize winners. He is the 157th most influential economist, and the 20463th most influential researcher over all disciplines (Ioannidis, Boyack, & Baas 2020 Table 6). Köbberling & Wakker (2005) is among the 50 most influential papers in Journal of Economic Theory (Shell, Borgers, & Pavan (2020). Wakker 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). He frequently gives advices on insurance in the media. He is a director of the research group Behavioral Economics. Personal website.

Publications

  • Academic (153)
    • Wakker, P. P. (2022). Transforming Ordinal Riskless Utility into Cardinal Risky Utility: A Comment on Chung, Glimcher, and Tymula (2019). American Economic Journal: Microeconomics, 14(2), 561-565. https://doi.org/10.1257/mic.20190338

    • Baillon, A., Bleichrodt, H., Li, C., & Wakker, P. P. (2021). Belief hedges: Measuring ambiguity for all events and all models. Journal of Economic Theory, 198, [105353]. https://doi.org/10.1016/j.jet.2021.105353

    • Wakker, P. P., & Yang, J. (2021). Concave/convex weighting and utility functions for risk: A new light on classical theorems. Insurance: Mathematics and Economics, 100, 429-435. https://doi.org/10.1016/j.insmatheco.2021.07.002

    • Johnson, C., Baillon, A., Bleichrodt, H., Li, Z., van Dolder, D., & Wakker, P. P. (2021). Prince: An improved method for measuring incentivized preferences. Journal of Risk and Uncertainty, 62(1), 1-28. https://doi.org/10.1007/s11166-021-09346-9

    • Bleichrodt, H., Doctor, JN., Gao, Y., Li, C., Meeker, D., & Wakker, P. (2020). Resolving Rabin’s Paradox. Journal of Risk and Uncertainty, 59(3), 239-260. https://doi.org/10.1007/s11166-019-09318-0

    • Wakker, P., & Abdellaoui, M. (2020). Savage for Dummies and Experts. Journal of Economic Theory, 186, [104991]. https://doi.org/10.1016/j.jet.2020.104991

    • Wakker, P. (2020). A Personal Tribute to David Schmeidler’s Influence. Revue Economique, 71, 387-390. https://doi.org/10.3917/reco.712.0387

    • Wakker, P. (2020). A One-Line Proof for Complementary Symmetry. Journal of Mathematical Psychology, 98, [102406]. https://doi.org/10.1016/j.jmp.2020.102406

    • Li, C., Turmunkh, U., & Wakker, P. (2020). Social and Strategic Ambiguity versus Betrayal Aversion. Games and Economic Behavior, 123, 272-287. https://doi.org/10.1016/j.geb.2020.07.007

    • Doctor, JN., Wakker, P., & Wang, T. (2020). Economists’ views on the ergodicity problem. Nature Physics, 16, [1168]. https://doi.org/10.1038/s41567-020-01106-x

    • Li, C., Turmunkh, U., & Wakker, P. (2019). Trust as a Decision under Ambiguity. Experimental Economics, 22, 51-75. https://doi.org/10.1007/s10683-018-9582-3

    • Wakker, P., & Yang, J. (2019). A Powerful Tool for Analyzing Concave/Convex Utility and Weighting Functions. Journal of Economic Theory, 181, 143-159. https://doi.org/10.1016/j.jet.2019.02.008

    • Baillon, A., Huang, Z., Selim, A., & Wakker, P. (2018). Measuring Ambiguity Attitudes for All (Natural) Events. Econometrica, 86(5), 1839-1858. https://doi.org/10.3982/ECTA14370

    • Trautmann, ST., & Wakker, P. (2018). Making the Anscombe-Aumann Approach to Ambiguity Suitable for Descriptive Applications. Journal of Risk and Uncertainty, 56(1), 83-116. https://doi.org/10.1007/s11166-018-9273-7

    • Li, Z., Muller, J., Wakker, P., & Wang, T. (2018). The Rich Domain of Ambiguity Explored. Management Science, 64(7), 3227-3240. https://doi.org/10.1287/mnsc.2017.2777

    • Li, Z., Rohde, K., & Wakker, P. (2017). Improving One’s Choices by Putting Oneself in Others’ Shoes—An Experimental Analysis. Journal of Risk and Uncertainty, 54(1), 1-13. https://doi.org/10.1007/s11166-017-9253-3

    • Bleichrodt, H., Kothiyal, A., Filko, M., & Wakker, P. (2017). Making Case-Based Decision Theory Directly Observable. American Economic Journal. Microeconomics, 9(1), 123-151. https://doi.org/10.1257/mic.20150172

    • Baillon, A., Bleichrodt, H., Liu, N., & Wakker, P. (2016). Group Decision Rules and Group Rationality under Risk. Journal of Risk and Uncertainty, 52(2), 99-116. https://doi.org/10.1007/s11166-016-9237-8

    • Dimmock, SG., Kouwenberg, R., & Wakker, P. (2016). Ambiguity Attitudes in a Large Representative Sample. Management Science, 62(5), 1363-1380. https://doi.org/10.1287/mnsc.2015.2198

    • Bleichrodt, H., Li, C., Moscati, I., & Wakker, P. (2016). Nash Was a First to Axiomatize Expected Utility. Theory and Decision, 81, 309-312. https://doi.org/10.1007/s11238-016-9542-3

    • Chai, D., Li, C., Wakker, P., Wang, T., & Yang, J. (2016). Reconciling Savage’s and Luce’s Modeling of Uncertainty: The Best of Both Worlds. Journal of Mathematical Psychology, 75, 10-18. https://doi.org/10.1016/j.jmp.2015.10.007

    • Attema, A., Bleichrodt, H., Gao, Y., Huang, Z., & Wakker, P. (2016). Measuring Discounting without Measuring Utility. The American Economic Review, 106(6), 1476-1494. https://doi.org/10.1257/aer.20150208

    • Bleichrodt, H., Rohde, K., Spinu, V., Keskin, U., & Wakker, P. (2015). Discounted Utility and Present Value—A Close Relation. Operations Research, 63(6), 1420-1430. https://doi.org/10.1287/opre.2015.1433

    • Sales, C., Wakker, P., Alves, PCG., & Faísca, L. (2015). MF Calculator: A Web-based Application for Analyzing Similarity. Journal of Statistical Software, 65, 1-10. https://doi.org/10.18637/jss.v065.c02

    • Bleichrodt, H., & Wakker, P. (2015). Regret Theory: A Bold Alternative to the Alternatives. The Economic Journal, 125, 493-532. https://doi.org/10.1111/ecoj.12200

    • Kothiyal, A., Spinu, V., & Wakker, P. (2014). Average Utility Maximization: A Preference Foundation. Operations Research, 62(1), 207-218. https://doi.org/10.1287/opre.2013.1230

    • Wakker, P., Li, C., & Li, Z. (2014). If Nudge Cannot Be Applied: A Litmus Test of the Readers’ Stance on Paternalism. Theory and Decision, 76(3), 297-315. https://doi.org/10.1007/s11238-013-9375-2

    • Kothiyal, A., Spinu, V., & Wakker, P. (2014). An Experimental Test of Prospect Theory for Predicting Choice under Ambiguity. Journal of Risk and Uncertainty, 48(1), 1-17. https://doi.org/10.1007/s11166-014-9185-0

    • de Palma, A., Abdellaoui, M., Attanasi, G., Ben-Akiva, M., Erev, I., Fehr-Duda, H., Fok, D., Fox, C., Hertwig, R., Picard, N., Wakker, 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. https://doi.org/10.1007/s11002-014-9316-z

    • Bleichrodt, H., Potter van Loon, R., Rohde, K., & Wakker, 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. (2013). Compound Invariance Implies Prospect Theory for Simple Prospects. Journal of Mathematical Psychology, 57(3-4), 68-77. https://doi.org/10.1016/j.jmp.2013.04.002

    • Spinu, V., & Wakker, P. (2013). Expected Utility without Continuity: A Comment on Delbaen, Drapeau, and Kupper (2011). Journal of Mathematical Economics, 49(1), 28-30. https://doi.org/10.1016/j.jmateco.2012.09.005

    • Baltussen, G., Post, GT., assem, MJ., & Wakker, P. (2012). Random Incentive Systems in a Dynamic Choice Experiment. Experimental Economics, 15(3), 418-443. https://doi.org/10.1007/s10683-011-9306-4

    • Baillon, A., Driesen, B., & Wakker, P. (2012). Relative Concave Utility for Risk and Ambiguity. Games and Economic Behavior, 75(2), 481-489. https://doi.org/10.1016/j.geb.2012.01.006

    • Attema, A., Bleichrodt, H., & Wakker, P. (2012). A Direct Method for Measuring Discounting and QALYs more Easily and Reliably. Medical Decision Making, 32(4), 583-593. https://doi.org/10.1177/0272989X12451654

    • Baillon, A., Cabantous, L., & Wakker, P. (2012). Aggregating Imprecise or Conflicting Beliefs: An Experimental Investigation Using Modern Ambiguity Theories. Journal of Risk and Uncertainty, 44(2), 115-147. https://doi.org/10.1007/s11166-012-9140-x

    • Bleichrodt, H., Doctor, JN., Filko, M., & Wakker, 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. https://doi.org/10.1016/j.jmp.2011.08.001

    • Kothiyal, A., Spinu, V., & Wakker, P. (2011). Prospect Theory for Continuous Distributions: A Preference Foundation. Journal of Risk and Uncertainty, 42(3), 195-210. https://doi.org/10.1007/s11166-011-9118-0

    • Trautmann, ST., Vieider, FM., & Wakker, P. (2011). Preference Reversals for Ambiguity Aversion. Management Science, 57(7), 1320-1333. https://doi.org/10.1287/mnsc.1110.1343

    • Kothiyal, A., Spinu, V., & Wakker, P. (2011). Comonotonic Proper Scoring Rules to Measure Ambiguity and Subjective Beliefs. Journal of Multi-Criteria Decision Analysis, 17(3/4), 101-113. https://doi.org/10.1002/mcda.454

    • Wakker, P. (2011). Jaffray's Ideas on Ambiguity. Theory and Decision, 71(1), 11-22. https://doi.org/10.1007/s11238-010-9209-4

    • van de Kuilen, G., & Wakker, P. (2011). The Midweight Method to Measure Attitudes towards Risk and Ambiguity. Management Science, 57(3), 582-598. https://doi.org/10.1287/mnsc.1100.1282

    • Abdellaoui, M., Baillon, A., Placido, L., & Wakker, P. (2011). The Rich Domain of Uncertainty: Source Functions and Their Experimental Implementation. The American Economic Review, 101(2), 695-723. https://doi.org/10.1257/aer.101.2.695

    • Attema, A., Bleichrodt, H., Rohde, K., & Wakker, P. (2010). Time-Tradeoff Sequences for Analyzing Discounting and Time Inconsistency. Management Science, 56(11), 2015-2030. https://doi.org/10.1287/mnsc.1100.1219

    • Trautmann, ST., & Wakker, P. (2010). Process Fairness and Dynamic Consistency. Economics Letters, 109(3), 187-189. https://doi.org/10.1016/j.econlet.2010.08.031

    • Sales, C., & Wakker, 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. https://doi.org/10.1348/000711008X376070

    • Offerman, T., Sonnemans, J., van de Kuilen, G., & Wakker, P. (2009). A Truth-Serum for Non-Bayesians: Correcting Proper Scoring Rules for Risk Attitudes. Review of Economic Studies, 76(4), 1461-1489. https://doi.org/10.1111/j.1467-937X.2009.00557.x

    • Bleichrodt, H., Rohde, K., & Wakker, P. (2009). Non-Hyperbolic Time Inconsistency. Games and Economic Behavior, 66(1), 27-38. https://doi.org/10.1016/j.geb.2008.05.007

    • Trautmann, ST., Vieider, F., & Wakker, P. (2008). Causes of Ambiguity Aversion: Known versus Unknown Preferences. Journal of Risk and Uncertainty, 36(3), 225-243. https://doi.org/10.1007/s11166-008-9038-9

    • Wakker, P. (2008). Explaining the Characteristics of the Power (CRRA) Utility Family. Health Economics, 17(12), 1329-1344. https://doi.org/10.1002/hec.1331

    • Wakker, P. (2008). Lessons Learned by (from?) an Economists Working in Medical Decision Making. Medical Decision Making, 28, 690-698. https://doi.org/10.1177/0272989X08323916

    • Bleichrodt, H., Rohde, K., & Wakker, P. (2008). Koopmans' Constant Discounting for Intertemporal Choice: A Simplification and a Generalization. Journal of Mathematical Psychology, 52(6), 341-347. https://doi.org/10.1016/j.jmp.2008.05.003

    • Bleichrodt, H., Rohde, K., & Wakker, P. (2008). Combining additive representations on subsets into an overall representation. Journal of Mathematical Psychology, 52(5), 304-310. https://doi.org/10.1016/j.jmp.2008.04.005

    • de Palma, A., Ben-Akiva, M., Brownstone, D., Holt, C., Thierry, M., McFadden, D., Moffatt, P., Picard, N., Train, K., Wakker, P., & Walker, J. (2008). Risk, Uncertainty and Discrete Choice Models. Marketing Letters, 19(3/4), 269-285. https://doi.org/10.1007/s11002-008-9047-0

    • Diecidue, E., Wakker, 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. https://doi.org/10.1007/s11166-007-9011-z

    • Kobberling, V., Schwieren, C., & Wakker, 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., Timmermans, DRM., & Machielse, IA. (2007). The Effects of Statistical Information on Risk and Ambiguity Attitudes, and on Rational Decisions. Management Science, 53(11), 1770-1784. https://doi.org/10.1287/mnsc.1070.0735

    • Abdellaoui, M., Barrios, C., & Wakker, P. (2007). Reconciling Introspective Utility with Revealed Preference: Experimental Arguments Based on Prospect Theory. Journal of Econometrics, 138(1), 336-378. https://doi.org/10.1016/j.jeconom.2006.05.025

    • van de Kuilen, GE., & Wakker, P. (2006). Learning in the Allais Paradox. Journal of Risk and Uncertainty, 33, 155-164. https://doi.org/10.1007/s11166-006-0390-3

    • Wakker, 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.

    • Abdellaoui, M., & Wakker, P. (2005). The Likelihood Method for Decision under Uncertainty. Theory and Decision, 58, 3-76.

    • Kobberling, V., & Wakker, P. (2005). An Index of Loss Aversion. Journal of Economic Theory, 122, 119-131.

    • Wakker, P., Jansen, SJT., & Stiggelbout, AM. (2004). Anchor Levels as a New Tool for the Theory and Measurement of Multiattribute Utility. Decision Analysis, 1, 217-234.

    • Wakker, P. (2004). On the Composition of Risk Preference and Belief. Psychological Review, 111, 236-241. https://doi.org/10.1037/0033-295X.111.1.236

    • van Osch, SMC., Wakker, P., van den Hout, W., & Stiggelbout, AM. (2004). Correcting Biases in Standard Gamble and Time Tradeoff Utilities. Medical Decision Making, 24, 511-517.

    • Diecidue, E., Schmidt, U., & Wakker, P. (2004). The Utility of Gambling Reconsidered. Journal of Risk and Uncertainty, 29, 241-259.

    • Kobberling, V., & Wakker, 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.

    • Wakker, 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. (2003). Preference Foundations for Nonexpected Utility: A Generalized and Simplified Technique. Mathematics of Operations Research, 28, 395-423.

    • Gilboa, I., Schmeidler, D., & Wakker, P. (2002). Utility in Case-Based Decision Theory. Journal of Economic Theory, 105, 483-502.

    • Diecidue, E., & Wakker, P. (2002). Dutch Books: Avoiding Strategic and Dynamic Complications, and a Comonotonic Extension. Mathematical Social Sciences, 43, 135-149.

    • Wakker, P., & Zank, H. (2002). A Simple Preference-Foundation of Cumulative Prospect Theory with Power Utility. European Economic Review, 46, 1253-1271.

    • Post, PN., Siggelbout, AM., & Wakker, P. (2001). The Utility of Health States Following Stroke; a Systematic Review of the Literature. Stroke, 32, 1425-1429.

    • De Waegenaere, A., & Wakker, P. (2001). Nonmonotonic Choquet Integrals. Journal of Mathematical Economics, 36, 45-60.

    • Diecidue, E., & Wakker, P. (2001). On the Intuition of Rank-Dependent Utility. Journal of Risk and Uncertainty, 23, 281-298.

    • Wakker, P. (2001). Testing and Characterizing Properties of Nonadditive Measures through Violations of the Sure-Thing Principle. Econometrica, 69, 1039-1059.

    • Bleichrodt, H., Pinto, JL., & Wakker, P. (2001). Making Descriptive Use of Prospect Theory to Improve the Prescriptive Use of Expected Utility. Management Science, 47(11), 1498-1514.

    • Wakker, P. (2000). Uncertainty Aversion: A Discussion of Critical Issues in Health Economics. Health Economics, 9, 261-263.

    • Sarin, RK., & Wakker, P. (2000). Cumulative Dominance and Probabilistic Sophistication. Mathematical Social Sciences, 40, 191-196.

    • Wakker, 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, SJT., Stiggelbout, AM., Wakker, P., Nooij, AN., Noordijk, EM., & Kievit, J. (2000). Unstable Preferences: A Shift in Valuation or an Effect of the Elicitation Procedure? Medical Decision Making, 20, 62-71.

    • Wakker, P., & Zank, H. (1999). State Dependent Expected Utility for Savage's State Space. Mathematics of Operations Research, 24, 8-34.

    • Chateauneuf, A., & Wakker, P. (1999). An Axiomatization of Cumulative Prospect Theory for Decision under Risk. Journal of Risk and Uncertainty, 18, 137-145.

    • Wakker, P., & Zank, H. (1999). A Unified Derivation of Classical Subjective Expected Utility Models through Cardinal Utility. Journal of Mathematical Economics, 32, 1-19.

    • Miyamoto, JM., Wakker, P., Bleichrodt, H., & Peters, HJM. (1998). The Zero-Condition: A Simplifying Assumption in QALY Measurement and Multiattribute Utility. Management Science, 44, 839-849.

    • Sarin, RK., & Wakker, P. (1998). Dynamic Choice and Nonexpected Utility. Journal of Risk and Uncertainty, 17, 87-119.

    • Jansen, SJT., Siggelbout, AM., Wakker, P., Vliet Vlieland, TPM., Leer, JWH., Nooy, MA., & 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. https://doi.org/10.1177/0272989X9801800406

    • Sarin, RK., & Wakker, P. (1998). Revealed Likelihood and Knightian Uncertainty. Journal of Risk and Uncertainty, 16, 223-250. http://hdl.handle.net/1765/23085

    • Kahneman, D., Wakker, P., & Sarin, RK. (1997). Back to Bentham? Explorations of Experienced Utility. The Quarterly Journal of Economics, 112, 375-405. https://doi.org/10.1162/003355397555235

    • Sarin, RK., & Wakker, P. (1997). A Single-Stage Approach to Anscombe and Aumann's Expected Utility. Review of Economic Studies, 64, 399-409.

    • Wakker, P., Thaler, RH., & Tversky, A. (1997). Probabilistic Insurance. Journal of Risk and Uncertainty, 15, 7-28. http://hdl.handle.net/1765/23093

    • Stalmeier, PFM., Wakker, P., & Bezembinder, TG. (1997). Preference Reversals: Violations of Unidimensional Procedure Invariance. Journal of Experimental Psychology-Human Perception and Performance, 23, 1196-1205.

    • Fennema, H., & Wakker, P. (1997). Original and Cumulative Prospect Theory: A Discussion of Empirical Differences. Journal of Behavioral Decision Making, 10, 53-64.

    • Bleichrodt, H., Wakker, P., & Johannesson, M. (1997). Characterizing QALYs by Risk Neutrality. Journal of Risk and Uncertainty, 15(15), 107-114.

    • Wakker, P. (1996). HYEs: Rejoinder. Medical Decision Making, 16(3), 216. https://doi.org/10.1177/0272989X9601600304

    • Wakker, P. (1996). A Criticism of Healthy-Years Equivalents. Medical Decision Making, 16, 207-214.

    • Wakker, P. (1996). The Sure-Thing Principle and the Comonotonic Sure-Thing Principle: An Axiomatic Analysis. Journal of Mathematical Economics, 25, 213-227. https://doi.org/10.1016/0304-4068(95)00721-0

    • Fennema, H., & Wakker, P. (1996). A Test of Rank-Dependent Utility in the Context of Ambiguity. Journal of Risk and Uncertainty, 13, 19-35.

    • Peters, HJM., & Wakker, P. (1996). Cycle-Preserving Extension of Demand Functions to New Commodities. Journal of Mathematical Economics, 25, 281-290. https://doi.org/10.1016/0304-4068(95)00733-4

    • Wakker, P., & Deneffe, D. (1996). Eliciting von Neumann-Morgenstern Utilities when Probabilities Are Distorted or Unknown. Management Science, 42, 1131-1150.

    • Miyamoto, J., & Wakker, P. (1996). Multiattribute Utility Theory without Expected Utility Foundations. Operations Research, 44, 313-326.

    • Chew, SH., & Wakker, P. (1996). The Comonotonic Sure-Thing Principle. Journal of Risk and Uncertainty, 12, 5-27. https://doi.org/10.1007/BF00353328

    • Deneffe, D., & Wakker, P. (1996). Mergers, Strategic Investments and Antitrust Policy. Managerial and Decision Economics, 17, 231-240. http://hdl.handle.net/1765/23010

    • Tversky, A., & Wakker, P. (1995). Risk Attitudes and Decision Weights. Econometrica, 63, 1255-1280. http://hdl.handle.net/1765/23118

    • Wakker, P., & Klaassen, MP. (1995). Confidence Intervals for Cost/Effectiveness Ratios. Health Economics, 4, 373-381. http://hdl.handle.net/1765/23116

    • Wakker, P., & Stiggelbout, AM. (1995). Explaining Distortions in Utility Elicitation through the Rank-Dependent Model for Risky Choices. Medical Decision Making, 15, 180-186. http://hdl.handle.net/1765/23113

    • Fishburn, PC., & Wakker, P. (1995). The Invention of the Independence Condition for Preferences. Management Science, 41, 1130-1144. http://hdl.handle.net/1765/23108

    • Maas, AIR., Bezembinder, TG., & Wakker, P. (1995). On Solving Intransitivities in Repeated Pairwise Choices. Mathematical Social Sciences, 29, 83-101. https://doi.org/10.1016/0165-4896(94)00769-5

    • Peters, HJM., & Wakker, P. (1994). WARP Does not Imply SARP for More Than Two Commodities. Journal of Economic Theory, 62, 152-160.

    • Maas, AIR., & Wakker, P. (1994). Additive Conjoint Measurement for Multiattribute Utility. Journal of Mathematical Psychology, 38, 86-101.

    • Quiggin, J., & Wakker, P. (1994). The Axiomatic Basis of Anticipated Utility; A Clarification. Journal of Economic Theory, 64, 486-499.

    • Sarin, RK., & Wakker, P. (1994). A General Result for Quantifying Beliefs. Econometrica, 62, 683-685.

    • Sarin, RK., & Wakker, P. (1994). Folding Back in Decision Tree Analysis. Management Science, 40, 625-628.

    • Wakker, P., Erev, I., & Weber, EU. (1994). Comonotonic Independence: The Critical Test between Classical and Rank-Dependent Utility Theories. Journal of Risk and Uncertainty, 9, 195-230.

    • Wakker, P. (1994). Separating Marginal Utility and Probabilistic Risk Aversion. Theory and Decision, 36, 1-44. https://doi.org/10.1007/BF01075296

    • Jaffray, JY., & Wakker, P. (1993). Decision Making with Belief Functions: Compatibility and Incompatibility with the Sure-Thing Principle. Journal of Risk and Uncertainty, 7, 255-271.

    • Chateauneuf, A., & Wakker, P. (1993). From Local to Global Additive Representation. Journal of Mathematical Economics, 22, 523-545. https://doi.org/10.1016/0304-4068(93)90002-3

    • Wakker, P. (1993). Additive Representations on Rank-Ordered Sets II. The Topological Approach. Journal of Mathematical Economics, 22, 1-26.

    • Wakker, P. (1993). Counterexamples to Segal's Measure Representation Theorem. Journal of Risk and Uncertainty, 6, 91-98.

    • Chew, SH., Epstein, LG., & Wakker, P. (1993). A Unifying Approach to Axiomatic Non-Expected Utility Theories: Correction and Comment. Journal of Economic Theory, 59, 183-188.

    • Wakker, P. (1993). Unbounded Utility for Savage's Foundations of Statistics, and other Models. Mathematics of Operations Research, 18, 446-485.

    • Wakker, P. (1993). Savage's Axioms Usually Imply Violation of Strict Stochastic Dominance. Review of Economic Studies, 60, 487-493.

    • Wakker, P., & Tversky, A. (1993). An Axiomatization of Cumulative Prospect Theory. Journal of Risk and Uncertainty, 7, 147-176.

    • Wakker, P. (1993). Clarification of some Mathematical Misunderstandings about Savage's Foundations of Statistics, 1954. Mathematical Social Sciences, 25, 199-202.

    • Wakker, P. (1992). Characterizing Stochastically Monotone Functions by Multi-Attribute Utility Theory. Economic Theory, 2, 565-566. https://doi.org/10.1007/BF01212477

    • Sarin, RK., & Wakker, P. (1992). A Simple Axiomatization of Nonadditive Expected Utility. Econometrica, 60, 1255-1272. http://hdl.handle.net/1765/23210

    • Peters, HJM., & Wakker, P. (1991). Independence of Irrelevant Alternatives and Revealed Group Preferences. Econometrica, 59, 1787-1801. http://hdl.handle.net/1765/23217

    • Wakker, P. (1991). Additive Representation for Equally Spaced Structures. Journal of Mathematical Psychology, 260-266. https://doi.org/10.1016/0022-2496(91)90028-R

    • Wakker, P. (1991). Continuity of Transformations. Journal of Mathematical Analysis and Applications, 162, 1-6. http://hdl.handle.net/1765/23214

    • Wakker, P. (1991). Additive Representations on Rank-Ordered Sets. I. The Algebraic Approach. Journal of Mathematical Psychology, 35, 501-531. https://doi.org/10.1016/0022-2496(91)90045-U

    • Wakker, P. (1990). Review of Ch. 2.10 of Richard C. Atkinson, Richard J. Herrnstein, Gardner E. Lindzey, & R. Duncan Luce (1988, eds.) “Stevens Handbook of Experimental Psychology” (Wiley, New York). Acta Psychologica, 75, 193-194.

    • Wakker, P. (1990). Under Stochastic Dominance Choquet-Expected Utility and Anticipated Utility are Identical. Theory and Decision, 29, 119-132. https://doi.org/10.1007/BF00126589

    • Wakker, P. (1990). A Behavioral Foundation for Fuzzy Measures. Fuzzy Sets & Systems, 37, 327-350. https://doi.org/10.1016/0165-0114(90)90030-A

    • Wakker, P. (1990). Characterizing Optimism and Pessimism Directly hrough Comonotonicity. Journal of Economic Theory, 52, 453-463. https://doi.org/10.1016/0022-0531(90)90043-J

    • Wakker, P. (1989). Nonexpected Utility as Aversion of Information: A Discussion. Journal of Behavioral Decision Making, 2, 197-202. https://doi.org/10.1002/bdm.3960020306

    • Wakker, P. (1989). Continuous Subjective Expected Utility with Nonadditive Probabilities. Journal of Mathematical Economics, 18, 1-27. https://doi.org/10.1016/0304-4068(89)90002-5

    • Wakker, P. (1989). Subjective Expected Utility with Non-Increasing Risk Aversion. Annals of Operations Research, 19, 219-228. https://doi.org/10.1007/BF02283522

    • Wakker, P. (1989). A Graph-Theoretic Approach to Revealed Preference. Methodology and Science, 22, 53-66.

    • Wakker, P. (1988). Derived Strength of Preference Relations on Coordinates. Economics Letters, 28, 301-306. https://doi.org/10.1016/0165-1765(88)90002-X

    • Wakker, P. (1988). Continuity of Preference Relations for Separable Topologies. International Economic Review, 29, 105-110. http://hdl.handle.net/1765/23234

    • Wakker, P. (1988). The Algebraic versus the Topological Approach to Additive Representations. Journal of Mathematical Psychology, 32, 421-435. https://doi.org/10.1016/0022-2496(88)90021-1

    • Wakker, P. (1988). Nonexpected Utility as Aversion of Information. Journal of Behavioral Decision Making, 1, 169-175.

    • Peters, HJM., & Wakker, P. (1987). Convex Functions on Non-Convex Domains. Economics Letters, 22, 251-255. https://doi.org/10.1016/0165-1765(86)90242-9

    • Wakker, P. (1987). Subjective Probabilities for State-Dependent Continuous Utility. Mathematical Social Sciences, 14, 289-298. https://doi.org/10.1016/0165-4896(87)90007-2

    • Wakker, P., Peters, HJM., & van Riel, TBPL. (1986). Comparisons of Risk Aversion, with an Application to Bargaining. Methods of Operations Research, 54, 307-320. http://hdl.handle.net/1765/23244

    • Wakker, P. (1986). The Repetitions Approach to Characterize Cardinal Utility. Theory and Decision, 20, 33-40. http://hdl.handle.net/1765/23246

    • Wakker, P. (1985). Extending Monotone and Non-Expansive Mappings by Optimization. Cahiers du C.E.R.O., 27, 141-149.

    • Wakker, P. (1985). Continuous Expected Utility for Arbitrary State Spaces. Methods of Operations Research, 50, 113-129.

    • Wakker, P. (1984). Cardinal Coordinate Independence for Expected Utility. Journal of Mathematical Psychology, 28, 110-117. https://doi.org/10.1016/0022-2496(84)90021-X

    • de Koster, R., Peters, HJM., Tijs, SH., & Wakker, P. (1983). Risk sensitivity, independence of irrelevant alternatives and continuity of bargaining solutions. Mathematical Social Sciences, 4(3), 295-300. https://doi.org/10.1016/0165-4896(83)90031-8

    • Wakker, P. (1981). Agreeing Probability Measures for Comparative Probability Structures. Annals of Statistics, 9, 658-662. http://hdl.handle.net/1765/23261

    • Wakker, P. P. (2022). The correct formula of 1979 prospect theory for multiple outcomes. Theory and Decision. https://doi.org/10.1007/s11238-022-09885-w

    • Wakker, P. (2020). Transforming Ordinal Riskless Utility into Cardinal Risky Utility: A Comment on Chung, Glimcher, & Tymula (2019). American Economic Journal. Microeconomics, in press. https://www.aeaweb.org/articles?id=10.1257/mic.20190338&&from=f

  • Popular (17)
    • Wakker, P. (2019). Rational vs. Irrational. New in Chess, 2019(ISBN-10 ‏ : ‎ 905691846X), 10.

    • Wakker, P. (2017). Ook naar het Strand Neem Ik Werk mee. Algemeen Dagblad, Beurs 17-17.

    • Wakker, P. (2014). Verliesangst. NRC Handelsblad, 27 June(Delta Loyyd Magazine), 9-9.

    • Vrieselaar, N., Koijen, R., & Wakker, P. (2014). Sparen voor de Dood. Elsevier, 70(47), 73-73.

    • de Raat, F., Hordijk, E., & Wakker, P. (2014). Laat het Los, Al Die Verzekeringen. NRC Handelsblad, (Feb. 8), E18-E19.

    • Wijers, S., de Jonge, G., & Wakker, P. (2013). Effectieve Dekking zonder Oververzekering. Unknown, 6-6.

    • Stallinga, R., & Wakker, P. (2013). Wie nooit wil verliezen, mist veel kansen. Safe (Robeco), 2013#2(02), 26-26.

    • Wakker, P. (2012). Heffen op Nationale Hobby: Verzekeren. NRC Handelsblad.

    • Wakker, P. (2012). Honder Euro Polisgeld Is Snel Terugverdiend. Algemeen Dagblad.

    • Wakker, P. (2012). Risico is geen Nederlands Woord. Het Parooltje.

    • Wester, J., & Wakker, P. (2012). Heffen op Nationale Hobby: Verzekeren. NRC Handelsblad, 9-9.

    • Brinks, M., & Wakker, P. (2012). Risico is geen Nederlands Woord. Het Parool, 9 Aug 2012, 9-9.

    • Boere, R., & Wakker, P. (2012). Honderd Euro Polisgeld Is Snel Terugverdiend. Algemeen Dagblad, 4 Oct 2012, 4-4.

    • Boogaards, E., & Wakker, P. (2009). Doe de Polis-Check (en Bespaar Geld). Unknown, 28-29.

    • Wakker, P. (2008). Verzeker vooral niet Alles. Algemeen Dagblad, 23.

    • Wakker, P. (2008). Verliesangst is de Drijfveer voor Afsluiten Verzekeren. Postbank NL, 27-29.

    • Steenhof, P., & Wakker, P. (2008). Verliesangst Is Drijfveer voor Afsluiten Verzekeren. Post Scriptum, 10(1), 27-29.

  • Professional (1)
  • Academic (2)
    • Wakker, P. (2010). Prospect Theory: For Risk and Ambiguity. Cambridge University Press.

    • Wakker, P. (1989). Additive Representations of Preferences, A New Foundation of Decision Analysis. Kluwer Academic.

  • Academic (10)
    • Wakker, P. (2019). Nicolas Jacquemet and Olivier l’Haridon, Experimental Economics: Method and Applications. Oeconomia. History, Methodology, Philosophy, 9, 193-197.

    • Wakker, P. (2000). Luce's Paradigm for Decision under Uncertainty. Journal of Mathematical Psychology, 44, 488-493.

    • Wakker, P. (2000). Book Review. The Journal of Economic Literature, 38, 638-639.

    • Wakker, P. (1998). Non-EU and Insurance. Journal of Behavioral Decision Making, 11, 151-160.

    • Wakker, P. (1996). Time Preference. Journal of Behavioral Decision Making, 9, 297-303.

    • Wakker, P. (1996). Book Review. Journal of Behavioral Decision Making, 9, 150-151.

    • Wakker, P. (1994). Expected versus Nonexpected Utility: The State of the Art. Journal of Mathematical Psychology, 38, 521-524.

    • Wakker, P. (1994). Quiggin's Rank-Dependent Model. Journal of Mathematical Psychology, 38, 525-526.

    • Bezembinder, TG., & Wakker, P. (1990). Review. Acta Psychologica, 75, 193-194.

    • Wakker, P. (1986). Book Review. Kwantitatieve Methoden, 20, 144-145.

  • Academic (5)
    • Wakker, P. (2008). Uncertainty. In L. Blume, & S. N. Durlauf (Eds.), The New Palgrave: A Dictionary of Economics (pp. 428-439). Palgrave Macmillan. 8

    • Wakker, 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). Routledge.

    • Peters, HJM., & Wakker, P. (1990). Independence of Irrelevant Alternatives and Revealed Group Preferences (Extended abstract). In T. Ichiishi, & A. Neyman (Eds.), Game Theory and Applications (pp. 404-406). Academic Press.

    • Wakker, 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). Centre for Mathematics and Computer Science.

    • Schmeidler, D., & Wakker, 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). The MacMillan Press.

  • Academic (8)
    • Wakker, 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). Morgan Kaufmann.

    • Timmermans, DRM., Politser, P., & Wakker, 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). Elseviers Science.

    • Sarin, RK., & Wakker, 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). Kluwer Academic.

    • Fennema, H., & Wakker, 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). Kluwer Academic.

    • Wakker, 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). Springer-Verlag. http://hdl.handle.net/1765/23218

    • Wakker, P. (1989). Transforming Probabilities without Violating Stochastic Dominance. In E. E. C. I. Roskam (Ed.), Mathematical Psychology in Progress (pp. 29-47). Springer-Verlag. http://hdl.handle.net/1765/23231

    • Wakker, 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). Physica Verlag.

    • Wakker, 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). Reidel.

  • Academic (2)
    • Heilmann, C., & Wakker, P. (2017). Interview. The Observer, 11(6), 26-29.

    • Heilmann, C., & Wakker, P. (2017). Interview. The Reasoner, 11(6), 26-29.

  • Academic (1)
    • Baillon, A., Bleichrodt, H., Liu, N., & Wakker, P. (2013). Group decision rules and group rationality under risk.

  • Popular (1)
    • Post, P. N., Stiggelbout, A. M., & Wakker, P. P. (2001). The utility of health states after stroke a systematic review of the literature. Stroke, 32(6), 1425-1429. https://doi.org/10.1161/01.STR.32.6.1425

  • Role: Promotor
  • PhD Candidate: Zhihua Li
  • Time frame: 2010 - 2014
  • Role: Member Doctoral Committee
  • PhD Candidate: Nishad Matawlie
  • Time frame: 2015 - 2020

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