Journal ArticleDOI
The Framing of Decisions and the Psychology of Choice
Amos Tversky,Daniel Kahneman +1 more
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The psychological principles that govern the perception of decision problems and the evaluation of probabilities and outcomes produce predictable shifts of preference when the same problem is framed in different ways.Abstract:
The psychological principles that govern the perception of decision problems and the evaluation of probabilities and outcomes produce predictable shifts of preference when the same problem is framed in different ways. Reversals of preference are demonstrated in choices regarding monetary outcomes, both hypothetical and real, and in questions pertaining to the loss of human lives. The effects of frames on preferences are compared to the effects of perspectives on perceptual appearance. The dependence of preferences on the formulation of decision problems is a significant concern for the theory of rational choice.read more
Citations
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Journal ArticleDOI
Gender differences in risk taking: A meta-analysis.
TL;DR: This paper conducted a meta-analysis of 150 studies in which the risk-taking tendencies of male and female participants were compared and found that the average effects for 14 out of 16 types of risk taking were significantly larger than 0 (indicating greater risk taking in male participants).
Journal ArticleDOI
A meta-analytic examination of the correlates of the three dimensions of job burnout.
Raymond T. Lee,Blake E. Ashforth +1 more
TL;DR: This meta-analysis examined how demand and resource correlates and behavioral and attitudinal correlates were related to each of the 3 dimensions of job burnout, finding that emotional exhaustion was more strongly related to the demand correlates than to the resource correlates.
Journal ArticleDOI
Mental accounting matters
TL;DR: Mental accounting is the set of cognitive operations used by individuals and households to organize, evaluate, and keep track of financial activities as discussed by the authors, where outcomes are perceived and experienced, and how decisions are made and subsequently evaluated.
Journal ArticleDOI
Norm theory: Comparing reality to its alternatives
Daniel Kahneman,Dale T. Miller +1 more
TL;DR: In this article, a theory of norms and normality is presented and applied to some phenomena of emotional responses, social judgment, and conversations about causes, such as emotional response to events that have abnormal causes, the generation of predictions and inferences from observations of behavior and the role of norms in causal questions and answers.
Journal ArticleDOI
Fools Rush in? The Institutional Context of Industry Creation
TL;DR: In this paper, the authors focus on one set of constraints facing entrepreneurs in emerging industries -their relative lack of cognitive and sociopolitical legitimacy, suggesting how their successful pursuit of legitimacy may evolve from innovative ventures to broader contexts, collectively reshaping industry and institutional environments.
References
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Book ChapterDOI
Prospect theory: an analysis of decision under risk
Daniel Kahneman,Amos Tversky +1 more
TL;DR: In this paper, the authors present a critique of expected utility theory as a descriptive model of decision making under risk, and develop an alternative model, called prospect theory, in which value is assigned to gains and losses rather than to final assets and in which probabilities are replaced by decision weights.
Book
Judgment Under Uncertainty: Heuristics and Biases
Amos Tversky,Daniel Kahneman +1 more
TL;DR: The authors described three heuristics that are employed in making judgements under uncertainty: representativeness, availability of instances or scenarios, and adjustment from an anchor, which is usually employed in numerical prediction when a relevant value is available.
Journal ArticleDOI
Prospect theory: analysis of decision under risk
Daniel Kahneman,Amos Tversky +1 more
Book
Theory of Games and Economic Behavior
TL;DR: Theory of games and economic behavior as mentioned in this paper is the classic work upon which modern-day game theory is based, and it has been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations.
Journal ArticleDOI
A Behavioral Model of Rational Choice
TL;DR: In this article, a model for the description of rational choice by organisms of limited computational ability is proposed, and the model is used to describe rational choice in organisms with limited computational abilities.