Prospect Theory

By Peter P. Wakker

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Prospect Theory: For Risk and Ambiguity, provides a comprehensive and accessible textbook treatment of the way decisions are made both when we have the statistical probabilities associated with uncertain future events (risk) and when we lack them (ambiguity). The book presents models, primarily prospect theory, that are both tractable and psychologically realistic. A method of presentation is chosen that makes the empirical meaning of each theoretical model completely transparent. Prospect theory has many applications in a wide variety of disciplines. The material in the book has been carefully organized to allow readers to select pathways through the book relevant to their own interests. With numerous exercises and worked examples, the book is ideally suited to the needs of students taking courses in decision theory in economics, mathematics, finance, psychology, management science, health, computer science, Bayesian statistics, and engineering.

Subject: Business & Economics -> Economics -> Principles of Microeconomics

Prospect Theory
For Risk and Ambiguity
1st edition
Publisher: Cambridge University Press 7/22/10
Imprint: Cambridge University Press
Language: English

ISBN 10: 051185028X
ISBN 13: 9780511850288
Print ISBN: 9780521765015

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