Prospect theory: An analysis of decision under risk Econometrica 47
@inproceedings{Kahneman1979ProspectTA, title={Prospect theory: An analysis of decision under risk Econometrica 47}, author={Daniel Kahneman and Amos Tversky}, year={1979} }
A lubricator valve apparatus adapted for use when running wireline tools into an offshore well during a production test of the well. The valve includes a valve body having a central flow passage and a ball valve element for opening and closing the passage, hydraulically operable means responsive to surface-controlled pressure for opening and closing the ball valve, latch means for releasably holding the ball valve in both the open and the closed positions, and bypass valve means for equalizing…
20,458 Citations
Mathematical Methods in Economics and Finance
- Economics
- 2008
The presence of the underwriting cycle in non-life insurance is well established. In recent years this subject has been renewed with the focus on the new European Directive, Solvency II, which…
Abandonments of unfinished nuclear power plants: A study of the causes of technology rejection after adoption
- Business
- 1986
A major feature of the last decade has been the systematic and continuous abandonments of large investments in nuclear power plants by electric utilities. This paper investigates the mix of…
Contracts for Difference and Risk Management in Multi-agent Energy Markets
- BusinessPAAMS
- 2015
The article presents several key features of software gents able to negotiate CFDs, paying special attention to risk management, notably risk attitude, and price negotiation.
Liquidation Decisions under Prospect Theory
- Economics, Business
- 2009
This paper examines the trading behavior with respect to prospect theory from an intraday analysis. The holding time of losers is longer than that of losers. In terms of holding time and profit,…
Throwing good money after bad?: Nuclear power plant investment decisions and the relevance of sunk costs☆
- Economics
- 1988
Aspects of risk management in deregulated electricity markets : storage, market power and long-term contracts
- Economics, Business
- 2002
This thesis considers the interaction of storage, gaming and forward contracts as mechanisms of risk management in a deregulated electricity market. To date, analyses of imperfect electricity markets…
Cost Overrun at the Norwegian Continental Shelf: The Element of Surprise
- EconomicsSSRN Electronic Journal
- 2016
Risk aversion and the dynamics of optimal liquidation strategies in illiquid markets
- EconomicsFinance Stochastics
- 2009
It is found that the optimal strategy is aggressive or passive in-the-money, respectively, if and only if the utility function displays increasing or decreasing risk aversion.
References
SHOWING 1-10 OF 96 REFERENCES
COMPARING IMPUTED AND ACTUAL UTILITY FUNCTIONS IN A COMPETITIVE BIDDING SETTING
- Economics
- 1976
The main focus of this article is to compare utility functions derived by the Von Neumann-Morgenstern conceptual apparatus with those imputed through actual pricing behavior. The study is cast in a…
The Development of a Corporate Risk Policy for Capital Investment Decisions
- MedicineIEEE Trans. Syst. Sci. Cybern.
- 1968
This paper describes how a corporate utility function was evolved as a risk policy for capital investment decisions by interviewing corporate executives and developing a mathematical function that could reflect each interviewee's attitude.
The Utility Analysis of Choices Involving Risk
- EconomicsJournal of Political Economy
- 1948
T vHE purpose of this paper is to suggest that an important class of reactions of individuals to risk can be rationalized by a rather simple extension of orthodox utility analysis. Individuals…
You have printed the following article : Prospect Theory : An Analysis of Decision under Risk
- Economics
- 1979
Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use…
Preference for Insuring against Probable Small Losses: Insurance Implications
- Psychology
- 1977
A series of laboratory studies of insurance decision making shows that people buy more insurance against events having a moderately high probability of inflicting a relatively small loss than against…
Prospect theory: analysis of decision under risk
- Economics
- 1979
Analysis of decision making under risk has been dominated by expected utility theory, which generally accounts for people's actions. Presents a critique of expected utility theory as a descriptive…
TWO‐PIECE VON NEUMANN‐MORGENSTERN UTILITY FUNCTIONS*
- Economics
- 1979
Thirty empirically assessed utility functions on changes in wealth or return on investment were examined for general features and susceptability to fits by linear, power, and exponential functions.…
Decisions with Multiple Objectives: Preferences and Value Trade-Offs
- Business, EconomicsIEEE Transactions on Systems, Man, and Cybernetics
- 1979
This book describes how a confused decision maker, who wishes to make a reasonable and responsible choice among alternatives, can systematically probe his true feelings in order to make those critically important, vexing trade-offs between incommensurable objectives.
Measuring utility by a single-response sequential method.
- EconomicsBehavioral science
- 1964
A sequential experiment that provides, at each stage in the sequence, an estimate of the utility to the subject of some amount of a commodity, and to present a few experimental results obtained with the method.
Economic Theory of Choice and the Preference Reversal Phenomenon
- Economics
- 1979
A body of data and theory has been developing
within psychology which should be of
interest to economists. Taken at face value the
data are simply inconsistent with preference
theory and have…