This book presents the definitive exposition of 'prospect theory', a
compelling alternative to the classical utility theory of choice.
Building on the 1982 volume, Judgement Under Uncertainty, this book
brings together seminal papers on prospect theory from economists,
decision theorists, and psychologists, including the work of the late
Amos Tversky, whose contributions are collected here for the first
time. While remaining within a rational choice framework, prospect
theory delivers more accurate, empirically verified predictions in key
test cases, as well as helping to explain many complex, real-world
puzzles. In this volume, it is brought to bear on phenomena as diverse
as the principles of legal compensation, the equity premium puzzle in
financial markets, and the number of hours that New York cab drivers
choose to drive on rainy days. Theoretically elegant and empirically
robust, this volume shows how prospect theory has matured into a new
science of decision making.
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Produktdetaljer
ISBN
9781107702301
Publisert
2014
Utgave
1. utgave
Utgiver
Vendor
Cambridge University Press
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter