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Start learning 50% faster. Sign in nowDaniel 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.
Fanging is related to
Which one is insect trap crop?
Which cost represents the expenses that remain constant regardless of the quantity produced in the short run?
The root disease “club root” is caused by
When there is a large potential market for a product, the firm will adopt.
Particle density of soil is always ____________ bulk density in cultivated soil.
If a plant had just one layer of leaves each joining each other, then the leaf area would match the ground area and then LAI (Leaf Area Index) would be�...
Chlorine is associated to photosynthesis in production of:
The inflorescence of barley is:
The critical slope for soil erosion is: