Choices, values, and frames / edited by Daniel Kahneman, Amos Tversky.
"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 theor...
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| Other Authors: | , |
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| Format: | Book |
| Language: | English |
| Published: |
New York : Cambridge, UK :
Russell sage Foundation ; Cambridge University Press,
2000.
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| Subjects: |
| Summary: | "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."--Publisher description. |
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| Physical Description: | xx, 840 pages : illustrations ; 24 cm |
| Bibliography: | Includes bibliographical references (pages 775-820) and index. |
| ISBN: | 0521621720 9780521621724 0521627494 9780521627498 |