Prospect theory

Prospect theory helps describe why losses hurt more than gains feel good.

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    Prospect theory (wikipedia)

    Prospect theory is a behavioral economic theory that describes the way people chose between probabilistic alternatives that involve risk, where the probabilities of outcomes are known.

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    Spousonomics Lesson #1: Loss Aversion

    An unusual use of the fear of losing: realizing when you are arguing merely to not lose the argument.

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    @Google Presents: Daniel Kahneman

    @Google Talks is proud to welcome hero of psychology, Daniel Kahneman. Daniel Kahneman, recipient of the Nobel Prize in Economic Sciences for his seminal work in psychology that challenged the rational model of judgment and decision making, is one of our most important thinkers.

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    A short wrap up on why losses hurt so much

    Ariely, Huber, and Wertenbroch on Loss Aversion

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    Prospect Theory | Psychology Concepts

    Prospect theory was proposed by Daniel Kahnemann and Amos Tversky in 1979 as an alternative to expected utility theory, which states that people make decisions which maximize the utility of the outcome. Using sets of surveys, Tversky and Kahnemann demonstrated several tendencies that appeared to run counter to the predictions of utility theory.

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    Risk aversion, risk loving and risk neutrality with different utility functions

    It makes sense to understand utility functions prior so you can understand the concept of prospect theory from the ground up. Thanks to Bryan McCannon for pointing this one out! Uploaded by learnittcom on 2012-03-11.

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    Future prospects

    GREAT ARTICLE! "PROSPECT theory" is an important contribution to the study of economics. It challenges some of the fundamental assumptions that economists have made concerning...

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    http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.27.1.173

    30 years of prospect theory described by Barberis. GOOD STUFF!

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    The paper that started it all

    Kahneman and Tversky 1979

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    Economics 119 - Lecture 7: Applications of Prospect Theory Video Lecture, UC Berkeley

    Significantly more in depth (some might say "dry") than the other tools, but very well done. Economics 119 - Lecture 7: Applications of Prospect Theory Video Lecture, UC Berkeley Course, Economics, Youtube Free Download, video training Tutorials, Daniel J. Acland

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