Learn how Nobel Laureate Daniel Kahneman's work in behavioral economics revolutionized the understanding of human ...

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 ...

“One of the basic axioms of the rational theory of decision under uncertainty is Savage’s (1954) sure-thing principle (STP). It states that if prospect x is preferred to y knowing that Event A ...

(JTA) — Daniel Kahneman, the Nobel Prize-winning Israeli psychologist who broke new ground in and found a large audience for his dissection of how humans make decisions, died Wednesday. He was 90 and ...

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.

Ever bought a monthly gym membership thinking it would make you go more often? Or chosen a health insurance policy with a lower deductible, even though the premium was much higher? You’re not alone – ...