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Daniel Kahneman, who won the 2002 Nobel Memorial Prize in Economics for his work developing prospect theory. Prospect theory is a theory of behavioral economics, judgment and decision making that was developed by Daniel Kahneman and Amos Tversky in 1979. [1] The theory was cited in the decision to award Kahneman the 2002 Nobel Memorial Prize in ...
Daniel Kahneman. In behavioral economics, cumulative prospect theory (CPT) is a model for descriptive decisions under risk and uncertainty which was introduced by Amos Tversky and Daniel Kahneman in 1992 (Tversky, Kahneman, 1992). It is a further development and variant of prospect theory.
Amos Nathan Tversky (Hebrew: עמוס טברסקי; March 16, 1937 – June 2, 1996) was an Israeli cognitive and mathematical psychologist and a key figure in the discovery of systematic human cognitive bias and handling of risk.
In 1979, Daniel Kahneman and his associate Amos Tversky originally coined the term "loss aversion" in their initial proposal of prospect theory as an alternative descriptive model of decision making under risk. [5] "The response to losses is stronger than the response to corresponding gains" is Kahneman's definition of loss aversion.
The pseudocertainty effect was illustrated by Daniel Kahneman, who received the Nobel Prize in economics for his work on decision making and decision theory, in collaboration with Amos Tversky. The studies that they researched used real and hypothetical monetary gambles and were often used in undergraduate classrooms and laboratories. [ 1 ]
Dr. Daniel Kahneman, winner of the 2002 Nobel Prize in economics, joins us to discuss his book Thinking, Fast and Slow. ... The full version of the interview can be watched here.
Download as PDF; Printable version; In other projects Wikidata item; ... Tversky, Amos; Kahneman, Daniel (1981). "The Framing of Decisions and the Psychology of Choice".
The original report by Tversky & Kahneman [2] (later republished as a book chapter [3]) described four problems that elicited the conjunction fallacy, including the Linda problem. There was also a similar problem about a man named Bill (a good fit for the stereotype of an accountant — "intelligent, but unimaginative, compulsive, and generally ...