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prospect theory.
theory of behavioral economics and behavioral finance that was developed by Daniel Kahneman and Amos Tversky in 1979
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Two psychologists proved smart judgment fails in predictable ways
Anyone who leans on expert intuition or wants the human story behind behavioral economics will see how friendship exposed our mental shortcuts—and how those shortcuts undid the friendship itself.
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About prospect theory
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.
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