Search Results for prospect theory

...John Staddon Choice behavior is studied differently in humans and in animals, and different theories have arisen to explain the results. I suggest that an approach derived from animal studies is also appropriate for human choice. Daniel Kahneman and Amos Tversky's prospect theory , a popular two...

... Daniel Kahneman and Amos Tversky's prospect theory as the most important candidate for replacing the traditional microeconomic model of human behavior. Correspondence may be addressed to [email protected] . I thank Harro Maas, John Davis, Marcel Boumans, Esther-Mirjam Sent, Gerd Gigerenzer, George...

..., or even impossible, to explain within the boundaries of standard decision theory. In the second part of the chapter, Szpiro pres- ents prospect theory, the behavioral extension of expected utility theory that Kahne- man and Tversky put forward in 1979 to rationalize some of the observed anomalies...

...Stephen Meardon Since its founding, especially before the late nineteenth-century closing of its frontier, the United States has been a laboratory for the creation and application of theories of economic development. A salient tradition in American economic thought has held, first, that Americans...

... . Heukelom F. 2014 . Behavioral Economics: A History . Cambridge : Cambridge University Press . Kahneman D. Tversky A. 1979 . “Prospect Theory: An Analysis of Decision under Risk.” Econometrica 47 ( 2 ): 263 – 91 . Staddon J. E. R. 2016 . Adaptive Behavior...

... Cumulative effects (CE) critiques of, 3, 121–22 model; Prospect theory; and the economic man, 160 Rational choice theory influence of, 77 architects, 192 influence on Jevons, 3, 18, 36 and control, 172 and marginal...

... Utility with Revealed Preference: Experimental Arguments Based on Prospect Theory. ” Journal of Econometrics 138 ( 1 ): 356 – 78 . Alt Franz . 1936 . “ Über die Messbarkeit des Nutzens. ” Zeitschrift für Nationalökonomie 7 : 161 – 69 . ———. 1937 . “ On the Measurability of Utility...

... . “ Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias .” Journal of Economic Perspectives 5 ( 1 ): 193 – 206 . Kahneman Daniel Tversky Amos . 1979 . “ Prospect Theory: An Analysis of Decision under Risk .” Econometrica 47 ( 2 ): 263 – 91 . Knetsch Jack L...

... Judgment. In Models of Man: Essays in Memory of Herbert Simon , edited by Mie Augier and James G. March, 411 -32. Cambridge, Mass.: MIT Press. Kahneman, Daniel, and Amos Tversky. 1974 . Judgment under Uncertainty: Heuristics and Biases. Science 185 : 1124 -31. ____. 1979 . Prospect Theory...

.... Kahneman, Daniel, and Amos Tversky. 1974 . Judgment under Uncertainty: Heuristics and Biases. Science 185 : 1124 -31. ____. 1979 . Prospect Theory: An Analysis of Decision under Risk. Econometrica 47.2 : 263 -91. Kahneman, Daniel, Paul Slovic, and Amos Tversky. 1982 . Judgment under...

... O. 1955 . “ Drives and the C.N.S. (Conceptual Nervous System) .” Psychological Revue 62 ( 4 ): 243 – 54 . Kahneman Daniel Tversky Amos . 1979 . “ Prospect Theory: An Analysis of Decision under Risk .” Econometrica 47 ( 2 ): 263 – 92 . Kardiner Abram . 1961...

... as important to how they value the outcome as the particular bundle of commodities or level of wealth at that final position. These critiques have led Kahneman and oth- ers to new theoretical approaches—most importantly, prospect theory (Kahneman and Tversky 1979; Thaler 1980)—that are designed...

... Immediate Consequences for Expected Utility Theory.” In The Experiment in the History of Economics , edited by Fontaine P. Leonard R. , 25 – 49 . New York : Routledge . Kahneman D. Tversky A. 1979 . “Prospect Theory: An Analysis of Decision under Risk.” Econometrica 47...

... Misconceptions, and Experimental Procedures for Eliciting Valuations.” American Economic Review 95 : 530 – 45 . ———. 2007 . “Exchange Asymmetries Incorrectly Interpreted as Evidence of Endowment Effect Theory and Prospect Theory?” American Economic Review 97 : 1449 – 66 . ———. 2011...

.... The Separate and Inexact Science o f Economics. Cambridge: Cambridge University Press. Hux, J., and Daniel Naylor. 1995. In the Eye of the Beholder. Archives o f Internal Medicine 155:2277-80. Kahneman, Daniel, and Amos Tversky. 1979. Prospect Theory: An Analysis of Decision...

... and Biases. Science 185 : 1124 -31. ____. 1979 . Prospect Theory: An Analysis of Decision under Risk. Econometrica 47.2 : 263 -91. Kaufman, Herbert. 1959 . Review ofOrganizations, by James G. March and Herbert A. Simon. American Political Science Review 53.4 : 1127 -29. Klaes, Matthias...

... 32.4 : 1195 -1200. Kahneman, Daniel, Paul Slovic, and Amos Tversky. 1982 . Judgment under Uncertainty: Heuristics and Biases . Cambridge: Cambridge University Press. Kahneman, Daniel, and Amos Tversky. 1979 . Prospect Theory: An Analysis of Decision under Risk. Econometrica 47 (March): 263...

.... The essential point is that Keynes does not deny that we can cal- culate (with probability theory) prospective yields. The ambiguity which was noted arises from the term ‘prospective,’ since a synonym 9. Keynes, General Theory, pp. 14748, 165-70, 203. 10. Ibid., p. 147. 11. Ibid., p...

..., the general point must be briefly discussed. Some of the criticism of Keynes’ theory as stated by Hart is perhaps deserved, especially insofar as Keynes’ formal theory, which represents the prospective yields of investments as a series of annuities, Q,, QZ, . . . , Q,, does not directly reflect...

... . Econometric Methods . 2nd ed. New York : McGraw-Hill . Kahneman Daniel Tversky Amos . 1979 . “Prospect Theory: An Analysis of Decision under Risk.” Econometrica 47 ( 2 ): 263 – 91 . Kalaitzidakis Pantelis Mamuneas Theofanis P. Stengos Thanasis . 2003 . “Rankings...