Individual decision-making is a key research area in microeconomics and a considerable amount of theoretical and experimental research has been devoted to its analysis. However, many decisions in ...

Events with very low a-priori probability but very high impact shape our lives to a significant degree, on an individual as well as a global level. Unfortunately, people have difficulties ...

Life is uncertain. None of us know what is going to happen. We know little of what has happened in the past or is happening now outside our immediate experience. Uncertainty has been called the ...