Prospect theory [1, 2, 3] has perhaps been one of the most influential theories within psychology and behavioral economics. Daniel Kahneman won the Nobel prize for this work. Prospect theory and ...
Earlier this month, NPR’s Shankar Vedantam floated the idea that something called "prospect theory" could explain Russian President Vladimir Putin’s invasion of Crimea. A behavioral economic model ...
Prospect theory has emerged as a pivotal framework in understanding travel choice behaviour under uncertainty, offering a nuanced perspective that diverges from traditional expected utility theory.
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