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.
In the Global Hunger Index 2023, what is India's rank out of 125 countries, and what is its corresponding score?
Which malaria vaccine developed by Oxford University and manufactured by Serum Institute of India has been added to the WHO's list of prequalified vacci...
Government of India has accorded 'In-Principle' approval for setting up of 21 Greenfield Airports, when did Greenfield Airports (GFA) Policy was formula...
What is the target percentage of women's representation in the aviation sector by 2025, as per DGCA’s advisory circular?
Which three Indian cities, nominated under the Wetland City Accreditation (WCA) scheme, are seeking international recognition for their efforts to prote...
DICGC is a wholly-owned subsidiary of ____________.
Employees Provident Fund Organisation (EPFO) has slashed the interest rate on provident fund deposits to ______ % for 2021-22.
The government has set an ambitious goal of achieving _________ of renewable energy capacity by the end of 2022.
The facial recognition system Digiyatra has been kicked off on 1st December, 2022 by the central government on which of the following airports?
India Resurgence Fund (IRF), an investment platform promoted by Piramal Enterprises and Bain Capital, is going to acquire the active pharmaceutical ingr...