The Prospect Theory

The Prospect Theory

by | Mar 12, 2018 | Behavioral Finance

The Prospect Theory Open PDF =>    The prospect theory was developed by Daniel Kahneman and Amos Tversky between 1979 and 1992. They showed how human decisions depart from those predicted by standard economic theory in decision-making under uncertainty. The...
The Concept of Time Inconsistency

The Concept of Time Inconsistency

by | Jan 25, 2018 | Behavioral Finance

The Concept of Time Inconsistency Download PDF  In economics, time-inconsistency is the problem that arises when a decision maker, especially a policymaker, prefers one policy in advance but later enacts a different one. Deciding among alternative policies at...