Question
Which of the following theory states that people are
averse to losses?Solution
The Prospect theory was introduced by two psychologists, Daniel Kahneman, and Amos Tversky. 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, and uncertainty. It holds that people make decisions based on perceived losses or gains
 International Institute of Tropical Agriculture is situated atÂ
Edible part of Saffron is ____
Income elasticity of inferior goods is ........................?
While recommending price policy of various commodities under its mandate, the Commission keeps in mind ____
An advance form of organizational design is .............................?
Which mineral is a primary component of limestone?
Which of the following statements is/are true about soil pH?
Statement A: Acidic soils have a pH value below 7, indicating high alkalinity.
<...Quiescent centre is found in plants at
Training of Rural Youth for Self Employment (TRYSEM) was launched in the year
How many factors have been identified for influencing plant growth up till now?
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