Choices, Values, and Frames

3.39 ( 23 Ratings by Goodreads)
Choices, Values, and Frames

Choices, Values, and Frames

3.39 (23 Ratings by Goodreads)
paperback
Published: 25 September, 2000
Standard worldwide delivery by Mon, July 6 - Wed, July 15
Order within 0
Condition: NEW
$101.05
Price includes shipping
Available 20+ in stock
- +
FREE Returns within 30 days

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.
See more

More Details

Type Book
ISBN13 9780521627498
ISBN10 0521627494
Number Of Pages 860
Item Weight 1070 g
Product Dimensions 156 x 236 x 34 mm
Publisher / Reseller Cambridge University Press
Format paperback
See More +

Media Reviews

'Daniel Kahneman and the late Amos Tversky have started a new perspective on the traditional economic categories of choice, decision, and value. A series of experimental and empirical studies by them and others have rejected traditional economic assumptions of rationality. Even more importantly, these scholars have developed alternative generalizations with significant predictive power and have found empirical verification for them. This outstanding collection of studies will make these new results widely accessible.' Kenneth J. Arrow, Joan Kenney Professor of Economics, Emeritus and Professor of Operations Research, Emeritus, Stanford University
'… full of great articles, including many of the most important ever written about decision research … More than compensating for any shortcomings is a fascinating and moving introduction written by Kahneman about his collaboration with Tversky. This is inspiring stuff. Even if you already have most of the articles from the book in your file drawer, it is worth getting just for this introduction.' Journal of Behavioural Decision Making
'This is an amazing resource.' Kevin Grell, Pitzer College

Show more