£67.68

Cambridge University Press Choices, Values, and Frames

Name: Choices, Values, and Frames
Brand: Cambridge University Press
Price: 67.68 GBP
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2985460

Economics

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Description

This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making.

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Product Specifications

Brand: Cambridge University Press
Model: 2985460
Format: Paperback
ASIN: 0521627494
Category: Books > Subjects > Business, Finance & Law > Economics
Domain: Amazon UK
Release Date: 25 September 2000
Listed Since: 21 December 2006

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Cambridge University Press Choices, Values, and Frames

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