Choices, Values, and Frames

by Daniel Kahneman,

Subject categories
ISBNs
  • 9780521627498
  • 9781107595682
  • 9781107702301
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.
  • Cambridge University Press; September 2000
  • ISBN 9781107595682
  • Read online, or download in secure PDF or secure EPUB format
  • Title: Choices, Values, and Frames
  • Author: Daniel Kahneman (ed.); Amos Tversky (ed.)
  • Imprint: Cambridge University Press
Subject categories
ISBNs
  • 9780521627498
  • 9781107595682
  • 9781107702301

In The Press

' … 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

Subject categories
ISBNs
  • 9780521627498
  • 9781107595682
  • 9781107702301