Encyclopedia of Operations Research and Management Science

2013 Edition
| Editors: Saul I. Gass, Michael C. Fu

Prospect Theory

Reference work entry
DOI: https://doi.org/10.1007/978-1-4419-1153-7_200657

A descriptive theory of decision making under uncertainty (human choice), which attempts to explain certain deviations of observed empirical behavior from expected utility theory.



  1. Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision making under risk. Econometrica, 47, 263–289.CrossRefGoogle Scholar

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