Pessali, Huascar; Berger, Bruno - Volkswirtschaftliche Fakultät, … - 2010
For many decades over the 20th Century, the mainstream of economics adopted a normative and axiomatic theory of … frontier. Prospect theory, developed by psychologists Daniel Kahneman and Amos Tversky since the 1970s, has provided a more … empirical, inductive and descriptive theory of decision making. It has made significant inroads into mainstream microeconomics …