Jump to ContentJump to Main Navigation

You are looking at 1-20 of 36 items

  • Keywords: prospect theory x
Clear All Modify Search

View:

How Does Consumer Behavior Affect Marketing Policy?

Sharan Jagpal

in Fusion for Profit: How Marketing and Finance Can Work Together to Create Value

Published in print:
2008
Published Online:
September 2008
ISBN:
9780195371055
eISBN:
9780199870745
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195371055.003.0011
Subject:
Business and Management, Marketing

This chapter compares different models of consumer behavior including standard economic theory and alternative behavioral theories such as prospect theory and assimilation-contrast theory. It shows ... More


Principled Guidance

Sean McKeever and Michael Ridge

in Principled Ethics: Generalism as a Regulative Ideal

Published in print:
2006
Published Online:
May 2006
ISBN:
9780199290659
eISBN:
9780191603617
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199290652.003.0009
Subject:
Philosophy, Moral Philosophy

Morality is a practical matter that concerns choice and action, and a sound moral outlook should be capable of motivating someone to act virtuously. Hence, it is reasonable to expect that moral ... More


Rationality: Crossing the Fault Lines?

José Luis Bermúdez

in Decision Theory and Rationality

Published in print:
2009
Published Online:
May 2009
ISBN:
9780199548026
eISBN:
9780191720246
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199548026.003.0006
Subject:
Philosophy, Philosophy of Mind, Philosophy of Science

This chapter explores the relation between the different dimensions of rationality. Previous chapters have argued that decision theory cannot be developed in a way that will satisfy the requirements ... More


Microeconomics: Optimization, Experiments, and Behavior

John P. Burkett

Published in print:
2006
Published Online:
October 2011
ISBN:
9780195189629
eISBN:
9780199850778
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195189629.001.0001
Subject:
Economics and Finance, Microeconomics

This book presents microeconomics as an evolving science, interacting with mathematics, psychology, and other disciplines and offering solutions to a growing range of practical problems. It gives ... More


A Science of Decision Making: The Legacy of Ward Edwards

Jie W. Weiss and David J. Weiss (eds)

Published in print:
2008
Published Online:
January 2009
ISBN:
9780195322989
eISBN:
9780199869206
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195322989.001.0001
Subject:
Psychology, Cognitive Psychology

Ward Edwards is well known as the father of behavioral decision making. In his 1954 Psychological Bulletin paper on decision making, he brought psychological ideas into what had been the province of ... More


Rank‐Dependent Utility *

Mohammed Abdellaoui

in The Handbook of Rational and Social Choice

Published in print:
2009
Published Online:
May 2009
ISBN:
9780199290420
eISBN:
9780191710506
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199290420.003.0003
Subject:
Economics and Finance, Public and Welfare

Rank‐dependent utility (RDu) is among the most popular generalizations of the standard model of expected utility. It takes into account the main violations of expected utility (Allais paradox, ... More


Applications of Non‐Expected Utility

Han Bleichrodt and Ulrich Schmidt

in The Handbook of Rational and Social Choice

Published in print:
2009
Published Online:
May 2009
ISBN:
9780199290420
eISBN:
9780191710506
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199290420.003.0004
Subject:
Economics and Finance, Public and Welfare

Expected utility is the dominant framework for analyzing decisions under risk and uncertainty. Many empirical studies show that people deviate systematically from expected utility. To accommodate ... More


Moral Intuitions, Cognitive Psychology, and the Harming/Not-Aiding Distinction

F. M. Kamm

in Intricate Ethics: Rights, Responsibilities, and Permissible Harm

Published in print:
2007
Published Online:
October 2011
ISBN:
9780195189698
eISBN:
9780199851096
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195189698.003.0015
Subject:
Philosophy, Moral Philosophy

Previous chapters have made liberal use of intuitive judgments about cases and principles. The book has also discussed the difference of opinion between some nonconsequentialists and some ... More


What Causes Escalation?

Helga Drummond

in Escalation in Decision-Making: The Tragedy of Taurus

Published in print:
1996
Published Online:
October 2011
ISBN:
9780198289531
eISBN:
9780191684722
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198289531.003.0001
Subject:
Business and Management, Organization Studies, HRM / IR

Past investments are irrelevant to decisions about the future. The correct response is to invest in whatever option promises the highest return on investment. In practice, decision-makers may do ... More


A decision-by-sampling account of decision under risk

Neil Stewart and Keith Simpson

in The Probabilistic Mind:: Prospects for Bayesian cognitive science

Published in print:
2008
Published Online:
March 2012
ISBN:
9780199216093
eISBN:
9780191695971
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199216093.003.0012
Subject:
Psychology, Cognitive Psychology

This chapter outlines a possible extension of Stewart et al.'s (2006) decision by sampling theory, to account for how people integrate probability and value information in considering ‘gambles’. The ... More


The Economic Theory of WTP and WTA

W. Michael Hanemann

in Valuing Environmental Preferences: Theory and Practice of the Contingent Valuation Method in the US, EU , and developing Countries

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248919
eISBN:
9780191595950
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248915.003.0003
Subject:
Economics and Finance, Development, Growth, and Environmental

The aim of this chapter is to examine the properties of welfare measures under alternative preference structures for q (the item being valued) and to identify the observable implications for measured ... More


Downside Potential Under Risk: The Allais Paradox and Its Conflicting Interpretations

Eric Barthalon

in Uncertainty, Expectations, and Financial Instability: Reviving Allais's Lost Theory of Psychological Time

Published in print:
2014
Published Online:
November 2015
ISBN:
9780231166287
eISBN:
9780231538305
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231166287.003.0010
Subject:
Economics and Finance, Behavioural Economics

This chapter focuses on the psychological importance of downside risk by presenting Maurice Allais's paradox and by contrasting how Allais and prospect theory have interpreted this paradox. It also ... More


Neuroeconomics and decision-making

Edmund T. Rolls

in Emotion and Decision-making Explained

Published in print:
2013
Published Online:
January 2014
ISBN:
9780199659890
eISBN:
9780191772078
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199659890.003.0009
Subject:
Neuroscience, Behavioral Neuroscience, Development

Classical microeconomics is reviewed to provide a background to neuroeconomics, which is then considered in terms of how expected value and outcome value are represented in the brain and used as ... More


The game of life:: How small samples render choice simpler

Ralph Hertwig and Timothy J. Pleskac

in The Probabilistic Mind:: Prospects for Bayesian cognitive science

Published in print:
2008
Published Online:
March 2012
ISBN:
9780199216093
eISBN:
9780191695971
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199216093.003.0010
Subject:
Psychology, Cognitive Psychology

This chapter highlights the importance of simplicity, but in a different way — it argues that, where people sample statistical information from experience, they tend to rely on surprisingly small ... More


A Health Capability Account of Equitable and Efficient Health Financing and Insurance

Jennifer Prah Ruger

in Health and Social Justice

Published in print:
2009
Published Online:
February 2010
ISBN:
9780199559978
eISBN:
9780191721489
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199559978.003.0008
Subject:
Economics and Finance, Public and Welfare

This chapter provides an alternative moral framework for analyzing health financing. In the health capability paradigm, continuous universal health insurance is essential for human flourishing. Its ... More


Loss Aversion: An Overview

Eyal Zamir

in Law, Psychology, and Morality: The Role of Loss Aversion

Published in print:
2014
Published Online:
November 2014
ISBN:
9780199972050
eISBN:
9780190215064
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199972050.003.0001
Subject:
Law, Philosophy of Law

Chapter 1 provides an overview of loss aversion. After a historical account, it describes the experimental and empirical findings that demonstrate loss aversion and elucidate its relationships to ... More


Behavioral Studies

Eyal Zamir and Doron Teichman

in Behavioral Law and Economics

Published in print:
2018
Published Online:
June 2018
ISBN:
9780190901349
eISBN:
9780190901387
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190901349.003.0003
Subject:
Law, Philosophy of Law

Against the background of rational choice theory, this chapter provides an overview of the behavioral sub-disciplines informing behavioral law and economics—including judgment and decision-making ... More


Asset Pricing and Behavioral Finance

Hersh Shefrin

in Portfolio Theory and Management

Published in print:
2013
Published Online:
May 2013
ISBN:
9780199829699
eISBN:
9780199979790
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199829699.003.0004
Subject:
Economics and Finance, Financial Economics

Behavioral asset pricing focuses on the manner in which investor psychology can create gaps between the market prices of securities and their corresponding fundamental values. This chapter describes ... More


Heterogeneity in Patent Theory: Why We Can't Agree Why We Patent

in The Patent Crisis and How the Courts Can Solve It

Published in print:
2009
Published Online:
March 2013
ISBN:
9780226080611
eISBN:
9780226080635
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226080635.003.0006
Subject:
Law, Intellectual Property, IT, and Media Law

This chapter describes the major theories of patent law. Edmund Kitch's prospect theory strongly emphasizes the role of a single patentee in coordinating the development, implementation, and ... More


Assessing Risk Tolerance

Sherman D. Hanna, Michael A. Guillemette, and Michael S. Finke

in Portfolio Theory and Management

Published in print:
2013
Published Online:
May 2013
ISBN:
9780199829699
eISBN:
9780199979790
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199829699.003.0005
Subject:
Economics and Finance, Financial Economics

Assessing risk tolerance is an important part of advising clients about portfolio selections. The expected utility approach underlying portfolio advice based on financial economics assumes that a ... More


View: