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By Daniel Kahneman,Amos Tversky

This publication provides the definitive exposition of 'prospect theory', a compelling replacement to the classical application conception of selection. development at the 1982 quantity, Judgement below Uncertainty, this e-book brings jointly seminal papers on prospect idea from economists, determination theorists, and psychologists, together with the paintings of the overdue Amos Tversky, whose contributions are accumulated the following for the 1st time. whereas final inside of a rational selection framework, prospect concept provides extra exact, empirically tested predictions in key try out instances, in addition to aiding to give an explanation for many advanced, real-world puzzles. during this quantity, it's delivered to undergo on phenomena as assorted because the ideas of felony reimbursement, the fairness top class puzzle in monetary markets, and the variety of hours that big apple cab drivers decide to force on wet days. Theoretically dependent and empirically strong, this quantity indicates how prospect conception has matured right into a new technology of choice making.

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Choices, Values, and Frames by Daniel Kahneman,Amos Tversky


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