Prize motivation: for having integrated insights from - TopicsExpress



          

Prize motivation: for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty (theory of measurement, utility theory, prospect theory . Several non-expected utility theories have been developed in response to the transitivity violations (D. Kahneman-A. Tversky 1979, M. Cohen-J-Y. Jaffray 1988). Among these theories the rank dependent utility model and its derivative cumulative prospect theory are currently the most popular. In the rank dependent utility (RDU) the decision weight of an outcome is not just probability associated with this outcome.
Posted on: Thu, 23 Oct 2014 11:29:55 +0000

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