a mental value perspective in risk decision theory
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ID: 128378
2006
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Abstract
This work is based on Prospect theory, which was developed by D. Kahneman and A. Tversky in 1979. This is one the most quoted and best-documented point of view in economic psychology. First of all, it replaces, once again, the notion of utility with value. But value is defined in terms of gains and losses and this, according with an irrational human tendency to be less willing to gamble with profits than with losses. So, we discover the great importance of these assumptions in the field of risk decision-making, especially for firms’ activity in the marketplace.
| Reference Key |
davidescu2006theoreticala
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| Authors | ;Roxana Davidescu;Alexandru Trifu |
| Journal | 2019 ieee 6th international conference on industrial engineering and applications, iciea 2019 |
| Year | 2006 |
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| Keywords | Keywords not found |
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