KnowraProspect theoryLinked fromLinked fromThe 28 pages that link to Prospect theory, each with the reason it gives.All 28Broader topic 2Related 14Narrower topic 2Compared with 10Behavioral economicsRelated: It explains why people evaluate risky gains and losses asymmetrically.Decision-makingRelated: It explains why losses and gains can influence choices asymmetrically.Bounded rationalityRelated: It offers a distinct psychological account of systematic departures from expected-utility predictions.Cognitive biasRelated: It formalized choice patterns that conflict with classical economic predictions.Behavioral financeRelated: It explains how loss aversion and framing alter choices involving money.Framing effectRelated: Its reference dependence and loss aversion explain why gain and loss frames can produce different choices.Allais paradoxRelated: Its decision weights can reproduce the probability sensitivity revealed by the paradox.St. Petersburg paradoxRelated: It offers a later psychological account of risky choices beyond expected utility.Richard ThalerRelated: Daniel Kahneman and Amos Tversky’s account of judgment under risk shaped Thaler’s work.Disposition effectRelated: Its loss aversion and reference dependence help explain reluctance to sell losing investments.Maurice AllaisRelated: The Allais paradox helped motivate alternatives to expected utility, including this influential model.Consumer behaviourRelated: It predicts risk-sensitive choices that standard rational-choice accounts miss.Pseudocertainty effectRelated: It explains why changing the presentation of a staged gamble can change choices without changing overall probabilities.Subadditivity effectRelated: Its account of probability weighting helped motivate later explanations of subadditive estimates.