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History
Prospect theory
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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 the 2002 Nobel Memorial Prize in Economics.
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
Behavioral economics
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Behavioral economics is the study of the psychological, cognitive, emotional, cultural and social factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory.
Adam Smith, author of The Wealth of Nations (1776) and The Theory of Moral Sentiments (1759)
Adam Smith, author of The Wealth of Nations (1776) and The Theory of Moral Sentiments (1759)
Herbert A. Simon, winner of the 1975 Turing award, the 1978 Nobel Prize in economics, and the 1988 John von Neumann Theory Prize
Herbert A. Simon, winner of the 1975 Turing award, the 1978 Nobel Prize in economics, and the 1988 John von Neumann Theory Prize
Daniel Kahneman, winner of the 2002 Nobel Prize in economics
Daniel Kahneman, winner of the 2002 Nobel Prize in economics