Choices, Values, and Frames (Paperback)

by Daniel Kahneman, Amos Tversky

Format: Paperback 860 pages

In stock

Usually despatched within 24 hours

£50.00

Delivered FREE
in the UK

Add to basket

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.

Book details

Published
25/09/2000

Publisher
Cambridge University Press

ISBN
9780521627498


Other books by this author See all titles

 

Customers who bought this title, also bought...

The prices displayed are for website purchases only, and may differ to the prices in Waterstones shops.