The decision paradoxes motivating Prospect Theory: The prevalence of the paradoxes increases with numerical ability
Prospect Theory (PT: Kahneman and Tversky, 1979) of risky decision making is based on psychological phenomena (paradoxes) that motivate assumptions about how people react to gains and losses, and how they weight outcomes with probabilities. Recent studies suggest that people’s numeracy affect their...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Society for Judgment and Decision Making
2019-07-01
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| Series: | Judgment and Decision Making |
| Subjects: | |
| Online Access: | http://journal.sjdm.org/18/18515/jdm18515.pdf |