prospect theory psychologyposits that when given a choice between the two equal options, most investors will typically choose the one presented in terms of prospective gains rather than one shown in terms of loss. The psychological explanation behind this behavior is that losses take a more ...
they singled out work he had done with his late colleague Amos Tversky. Together, Kahneman and Tversky developed a framework they called “prospect theory,” which provides great insight
In subject area:Psychology Prospect theory: a formal description of how individuals transform probabilities into weights and losses or gains into values to estimate the utility of an option in a decision-making situation [99]. From:Trends in Cognitive Sciences,2012 ...
REWARD (Psychology)PROSPECT theoryNEURAL circuitryMODEL theoryNEURAL codesMIRROR neuronsProspect theory, arguably the most prominent theory of choice, is an obvious candidate for neural valuation models. How the activity of individual neurons, a possible computational unit, obeys prospect theory remains ...
Prospect theory accounts for how people make decisions in situations where they have to decide between alternatives that involve risk (i.e. with uncertain outcomes, but where the probabilities of different outcomes are known). From: Neuroscience & Biobehavioral Reviews, 2012Set...
Advances in Prospect Theory: Cumulative Representation of Uncertainty Amos Tversky Stanford University, Dept. of Psychology Daniel Kahneman U. C. Berkeley, Dept. of Psychology A new version of prospect theory: Cumulative Prospect Theory ? Applies to both uncertain and risky prospects ? New experiment...
1981. “The Framing of Decisions and the Psychology of Choice.” Science 211 (4481): 453–58. 發表者:yinung • 發表在 expectations、experiment、loss aversion、MLA、rational choice theory、實驗、文獻回顧 中 • 已加上的標籤 2012、endowment effects、Prospect Theory、risk preferences ...
3 Prospect theory...7 Psychology and economics...7 3.1 Weighting function ...
The psychology of sunk cost. Organ. Behav. Hum. Decis. Process. 35, 124–140 (1985). Article Google Scholar Uecker, W., Schepanski, A. & Shin, J. Toward a positive theory of information evaluation: relevant tests of competing models in a principal-agency setting. Account. Rev. 60,...
Prospect Theory uses psychology to describe the choices people make. It is a psychological theory regarding how people make choices when faced with risky alternatives, uncertainty and probability. The theory explains that people make choices based on perceived losses and gains. Understanding this very ...