Prospect theory
Teoría de las perspectivas
- Date
- 1979 · confidence high
- Place
- Jerusalem, Israel
- Credited to
- Daniel Kahneman and Amos Tversky
- Field
- Knowledge & symbols
What was discovered
A behavioral-economics theory describing how people asymmetrically value losses and gains relative to a reference point, in contrast to the expected-utility theory of rational agents.
Developed from experimental studies by Kahneman and Tversky, begun during their collaboration in Israel.
What it led to
- The birth of behavioral economics as a discipline
- The 2002 Nobel Memorial Prize in Economics for Kahneman
Built on
- St. Petersburg paradox1738 (planteada en 1713)
- Expected utility theory