Start learning 50% faster. Sign in now
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.
Select the alternative that will improve the bold part of the sentence in case there is no improvement select “No improvement”.
The floods...
Find the appropriate error.
Beside cricket Rahul plays tennis as well.
His advice to them was to not to lose faith in God.
They involved the SC verdict in a diary case to point out that investigation against a person can be ordered only when there is prima facie evidence...
The company’s new policy aims to reduce the number of complaints by ensuring customer queries are handle promptly and effectively.
(i) are hand...
A statement has been given with three words in bold. There are three answer choices given below, one or more of which may act as replacement t...
Of the four given options, choose the most appropriate one.
Interestingly, Elon Musk, who has been a vocal and visible supporter in this election, recently agreed to a tweet that sought the implementation of mor...
The burden of fixed monthly charges and fuel cost adjustment will be born by state government