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Daniel Kahneman's theory is Prospect Theory, for which he won the Nobel Prize in Economic Sciences in 2002.He introduced thus theory along with Amos Tversky. The theory deals with human judgment and decision-making. As per the theory, given the choice of equal probabilities, most people would choose to retain the wealth that they already have, rather than risk the chance to increase their current wealth. People are usually averse to the possibility of losing, such that they would rather avoid a loss rather than take a risk to make an equivalent gain. It is a psychology theory that describes how people make decisions when presented with alternatives that involve risk, probability, anduncertainty. It holds that people make decisions based on perceived losses or gains. Kahneman won the Nobel Prize for his work in integrating psychology into economics, particularly how human decision-making impacts economic decisions in times of uncertainty.
Preeti said to her friend, "I am like my mother."
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I said to Promod, “How did you break your leg?”
Select the correct indirect/direct speech for the given sentence
Father said to son, “ what time do the schools open and close?”
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The commander said to the soldiers, “Don’t think twice. Jump off the plane now.”
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Ankita said that she ……………… to be a doctor.
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Raveena asked me if I had her maid’s number.
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The policeman told the inspector that he had arrested a man for breaking the loc...
I said to the taxi driver, "You must be crazy to drive so fast."
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She exclaimed that she looked very ugly in that dress.