Enjoy fast, FREE delivery, exclusive deals and award-winning movies & TV shows with Prime
Try Prime and start saving today with Fast, FREE Delivery

Buy new:

$53.95

List Price: $59.95

Save: $6.00 (10%)

FREE Returns

FREE delivery Wednesday, June 21

Or fastest delivery Tuesday, June 20. Order within 8 hrs 52 mins

Select delivery location

In Stock

[{"displayPrice":"$53.95","priceAmount":53.95,"currencySymbol":"$","integerValue":"53","decimalSeparator":".","fractionalValue":"95","symbolPosition":"left","hasSpace":false,"showFractionalPartIfEmpty":true,"offerListingId":"DPJGv0ka2aqc3Li353UmnBrxFNXClfd8MrDCw1eEHobLWormCB5LFDLwPs6oI9ux%2Bp86uu1YyxS%2B8XQOrTmg2E7%2FyLqyQ3iv7e%2Bl0e4cc4I%2F8LLboknroqLMPELx0V8QP17MFw1zHIfG0s6WgPiG5w%3D%3D","locale":"en-US","buyingOptionType":"NEW","aapiBuyingOptionIndex":0}]

$$53.95 () Includes selected options. Includes initial monthly payment and selected options. Details

Payment

Secure transaction

Ships from

Amazon.com

Sold by

Amazon.com

Returns

Eligible for Return, Refund or Replacement within 30 days of receipt

Details

Payment

Secure transaction

We work hard to protect your security and privacy. Our payment security system encrypts your information during transmission. We don’t share your credit card details with third-party sellers, and we don’t sell your information to others. Learn more

Ships from

Amazon.com

Sold by

Amazon.com

Returns

Eligible for Return, Refund or Replacement within 30 days of receipt

This item can be returned in its original condition for a full refund or replacement within 30 days of receipt.

Read full return policy

Add a gift receipt for easy returns

Have one to sell?

Sell on Amazon

Other Sellers on Amazon

Added

Not added

$55.81
+ $3.99 shipping

Sold by: TheWorldShopUSA

Added

Not added

$71.90
& FREE Shipping

Sold by: MyPrepbooks

Added

Not added

$74.97
+ $3.99 shipping

Sold by: 311dvds

Flip to back Flip to front

See this image

Follow the Author

Daniel Ellsberg

Risk, Ambiguity and Decision (Studies in Philosophy) 1st Edition

by Daniel Ellsberg (Author)

4.1 5 ratings

Part of: Studies in Philosophy (47 books)

See all formats and editions

Price

New from

Used from

Kindle

"Please retry"

$47.36

—

Hardcover

"Please retry"

$150.00

$151.70

Paperback

"Please retry"

$53.95

$53.90

$49.99

Kindle
$32.98 - $47.36 Read with Our Free App
Hardcover
$150.00 - $153.98

Other new and used from $150.00

2 Used from $151.70

9 New from $150.00
Paperback
$53.95

Other new and used from $49.99

4 Used from $49.99

14 New from $53.90

Purchase options and add-ons

Ellsberg elaborates on "Risk, Ambiguity, and the Savage Axioms" and mounts a powerful challenge to the dominant theory of rational decision in this book.

Frequently bought together

Risk, Ambiguity and Decision (Studies in Philosophy)

$53.95

Get it as soon as Wednesday, Jun 21

In Stock.

Ships from and sold by Amazon.com.

+

Secrets: A Memoir of Vietnam and the Pentagon Papers

$22.00

Get it as soon as Wednesday, Jun 21

In Stock.

Ships from and sold by Amazon.com.

Total price:

To see our price, add these items to your cart.

Try again!

Details

Added to Cart

Choose items to buy together.

Daniel Ellsberg
523
Paperback
58 offers from $3.40

Editorial Reviews

Review

"Ellsberg's dissertation is a major landmark in the history of decision research. The issues that it raised and clarified have inspired scholars for decades, and will continue to do so." -- Daniel Kahneman, Princeton University
"I think a published version would be a valuable resource, not only as a historical document, but also for still fresh ideas." -- Dick Jeffrey, Princeton University
"Daniel Ellsberg set the world of decision theorists on its ear when he introduced the distinction between risk and ambiguity in his article excerpted from his dissertation. The clear convincing example caused a fundamental shift in thinking and in many ways led to the subsequent studies of decision and judgment by cognitive psychologists which, in turn, are having an increasing influence in the analysis of economic phenomena. It is good to have the complete text available to us at last." -- Kenneth J. Arrow, Stanford University, Emeritus

About the Author

Daniel Ellsberg was a strategic analyst with the RAND Corporation, and a defense department and state department official who served in Vietnam. He later revealed to the U.S. Senate and the press the Pentagon Papers, a 7,000 page top secret study of U.S. decision making in Vietnam from 1945 to 1968. For this he faced a trial and a sentence of 115 years in prison, but all charges were dismissed on grounds of gross governmental misconduct against him, which led to the conviction of a number of White House aids and figured in the impeachment proceedings against President Nixon.

Product details

Publisher ‏ : ‎ Routledge; 1st edition (March 3, 2016)
Language ‏ : ‎ English
Paperback ‏ : ‎ 336 pages
ISBN-10 ‏ : ‎ 1138985473
ISBN-13 ‏ : ‎ 978-1138985476
Item Weight ‏ : ‎ 1.05 pounds
Dimensions ‏ : ‎ 5.98 x 0.76 x 9.02 inches

Best Sellers Rank: #3,071,930 in Books (See Top 100 in Books)
- #4,637 in Business Decision Making
- #6,617 in Decision-Making & Problem Solving
- #9,449 in Philosophy (Books)

Customer Reviews:
4.1 5 ratings

Brief content visible, double tap to read full content.

Full content visible, double tap to read brief content.

Videos

Help others learn more about this product by uploading a video!

Upload your video

About the author

Follow authors to get new release updates, plus improved recommendations.

Daniel Ellsberg

Brief content visible, double tap to read full content.

Full content visible, double tap to read brief content.

Discover more of the author’s books, see similar authors, read author blogs and more

Customer reviews

4.1 out of 5

5 global ratings

5 star
4 star
3 star
2 star 0% (0%)		0%
1 star 0% (0%)		0%

How customer reviews and ratings work

Top reviews from the United States

There was a problem filtering reviews right now. Please try again later.

Michael Emmett Brady

Ellsberg's Ambiguity is equivalent to Keynes's Weight Index

Reviewed in the United States 🇺🇸 on July 7, 2004

Verified Purchase

Ellsberg does an excellent job of demonstrating the very special nature of the Ramsey-de Finetti-Savage(RFS) subjectivist approach to both probability and decision making.The RFS approach requires the decision maker to be able to specify precise,exact,definite single number answers for all probability estimates.This is supposedly accomplished by an elicitation procedure based on the requirement that every decision is to be modeled as if it were a betting situation.Ellsberg shows that many decision makers will not accept such a betting quotients modeling approach to specifying numerical probabilities because such individuals make imprecise probability assessments.These estimates of probability are intervals.Each interval is made up of a lower probability and an upper probability.Only in the special case where the lower probability equals the upper probability will the RFS approach be sound.Ellsberg makes it very clear that he is building on the work of Good,Koopman,Smith and others in emphasizing the importance of intervals in specifying probability assessments in real world situations.However,in his formal model Ellsberg uses sets of probability distributions.One of Ellsberg's contributions is in terms of explaining why the vast majority of decision makers rely on intervals and not on precise probability estimates.Ellsberg's answer is that both the quantity and quality of relevant information, data or knowledge is ambiguous ,unclear,conflicting,incomplete or not available.Ambiguity represents a second dimension of decision making.This means that the RFS approach to probability estimation and the Subjective Expected Utility(SEU)theory built upon it is a special limiting case that only obtains when the information base is clear ,complete, available, and non-conflicting.Ellsberg operationalizes his concept of ambiguity by defining a variable called rho,where 0<=rho<=1.Rho is "...a number between 0 and 1 reflecting the decision-maker's degree of confidence in or reliance upon the estimated distribution... in a particular decision problem."(Ellsberg,2001,p.194).Ellsberg then incorporates rho as a linear decision weight in a"resticted Bayes/Hurwicz criterion",i.e.,a decision rule that also incorporates an optimism-pessimism index. The majority of Ellsberg's work is truly original and can be readily applied in the present.Some of the things that Ellsberg does had already been done by J.M. Keynes in his A Treatise on Probability in 1921.Unfortunately, due to the misplaced influence of two error filled reviews of Keynes's approach by Frank Ramsey,95% of the reviews being based on the first 4 chapters of Keynes's book,Keynes's imprecise interval approach,which Keynes called nonnumerical or nonmeasurable probabilities , in order to emphasis the need to use TWO numerals in the estimation of a probability,came to be looked on as some "mysterious nonnumerical probabilities" that did not obey the laws of probability.Finally,in chapter 26 of A Treatise on Probability , on page 315 and page 315,footnote 2,Keynes specifies an index w ,where w equals the weight of the evidence and measures the degree of the completeness of the relevant evidence upon which the probability estimates are based.W is defined as 0<=w<=1.Keynes then incorporates this index into a decision theoretic criterion rule which he called "a conventional coefficient of weight and risk."Letting c designate the "conventional coefficient",the goal of Keynes's decision rule is to maximize cA,where A is equal to some outcome.In this reviewer's opinion,Keynes's decision rule is,in an overall evaluation, equivalent to Ellsberg's rule .There are some minor differences,since Keynes's representation incorporates nonlinearity into his weighting function while Ellsberg works with a linear representation.It is the nonlinearity effect which is contributing to the creation of some(many?) of the anomalies and paradoxes in standard SEU theory.Both Ellsberg's and Keynes's work goes a very long way towards correcting these deficiencies.However,Keynes got to the mountain top first.On the other hand,Ellsberg found both a shorter,quicker way(you need to carefully read mainly one chapter,chapter 7,while in the TP you need to read chapters 3,5,6,10,12,15,17,20,22,26,29,and 30)to the top and planted another flag[in addition to rho(Keynes's w),Ellsberg also planted alpha,adapted from Hurwicz.This is a measure of optimism-pessimism.Keynes did not deal with this in the TP.In the General Theory,Keynes dealt with it informally with his conventions and animal spirit concepts].Ellsberg's chapter 7 model can thus supply a complete,formal explanation of Keynes's theories of Liquidity Preference and Marginal Efficiency of Capital in decision theoretic terms that incorporate micro maximizing behavior while simoltaneously explaining macro phenomena.This review has been revised to correct errors made by the reviewer in the original review.I now would assign this book 5 stars.The potential reader will gain much just by analyzing the various examples.For a full understanding,a reader should have taken courses in statistics,probability,and philosophy at the upper division level or have studied the equivalent on his own.

Amazon Music Stream millions of songs	Amazon Advertising Find, attract, and engage customers	6pm Score deals on fashion brands	AbeBooks Books, art & collectibles	ACX Audiobook Publishing Made Easy	Sell on Amazon Start a Selling Account

Amazon Business Everything For Your Business	Amazon Fresh Groceries & More Right To Your Door	AmazonGlobal Ship Orders Internationally	Home Services Experienced Pros Happiness Guarantee	Amazon Ignite Sell your original Digital Educational Resources	Amazon Web Services Scalable Cloud Computing Services

Audible Listen to Books & Original Audio Performances	Book Depository Books With Free Delivery Worldwide	Box Office Mojo Find Movie Box Office Data	ComiXology Thousands of Digital Comics	DPReview Digital Photography	Fabric Sewing, Quilting & Knitting

Goodreads Book reviews & recommendations	IMDb Movies, TV & Celebrities	IMDbPro Get Info Entertainment Professionals Need	Kindle Direct Publishing Indie Digital & Print Publishing Made Easy	Amazon Photos Unlimited Photo Storage Free With Prime	Prime Video Direct Video Distribution Made Easy

Shopbop Designer Fashion Brands	Amazon Warehouse Great Deals on Quality Used Products	Whole Foods Market America’s Healthiest Grocery Store	Woot! Deals and Shenanigans	Zappos Shoes & Clothing	Ring Smart Home Security Systems

eero WiFi Stream 4K Video in Every Room	Blink Smart Security for Every Home	Neighbors App Real-Time Crime & Safety Alerts	Amazon Subscription Boxes Top subscription boxes – right to your door	PillPack Pharmacy Simplified	Amazon Renewed Like-new products you can trust

Amazon Prime includes:

Buy new: $53.95

Other Sellers on Amazon

Follow the Author

Risk, Ambiguity and Decision (Studies in Philosophy) 1st Edition

Purchase options and add-ons

Frequently bought together

Customers who viewed this item also viewed

Editorial Reviews

Review

About the Author

Product details

Videos

About the author

Daniel Ellsberg

Customer reviews

Top reviews from the United States

There was a problem filtering reviews right now. Please try again later.

Buy new:

$53.95