WikiVisually
The entire wiki reimagined as a visual magazine with video discovery · Watch your interests come alive
WikiVisually
The entire wiki reimagined as a visual magazine with video discovery · Watch your interests come alive
Nature The World Movies USA Top Art Fine & Rare History Ivy & Inquiry
Decision theory
Videos
Decision theory or the theory of rational choice is a branch of probability, economics, and analytic philosophy that uses expected utility and probability to model how individuals would behave rationa
The mythological Judgement of Paris required selecting from three incomparable alternatives (the goddesses shown).
The mythological Judgement of Paris required selecting from three incomparable alternatives (the goddesses shown).
Military planners often conduct extensive simulations to help predict the decision-making of relevant actors.
Military planners often conduct extensive simulations to help predict the decision-making of relevant actors.
The gambler's fallacy: even when the roulette ball repeatedly lands on red, it is no more likely to land on black the next time.
The gambler's fallacy: even when the roulette ball repeatedly lands on red, it is no more likely to land on black the next time.
Prospect theory
Videos
Prospect theory is a theory of behavioral economics, judgment and decision making that was developed by Daniel Kahneman and Amos Tversky in 1979. The theory was cited in the decision to award Kahneman
Decision theory
…Their work in behavioral economics highlighted cognitive biases and heuristics that influence real-world decisions, leading to the development of prospect theory, which modified expected utility theory by accounting for psychological factors. Normative decision theory is concerned with identification of optimal…
Daniel Kahneman, who won the 2002 Nobel Memorial Prize in Economics for his work developing prospect theory
Daniel Kahneman, who won the 2002 Nobel Memorial Prize in Economics for his work developing prospect theory