prospect theory and, according to Daniel Kahneman, “the most significant contribution of psychology to behavioral economics …” (Kahneman, 2011, p. 300). It has powerful implications for decision theory and has been fruitfully applied in many subfields of …

that are extracted from a classroom experiment. We find that more-loss-averse students leave more questions unanswered and … evidence that loss aversion parameters extracted from lottery choices in a controlled experiment have predictive power in a … over time, as the experiment was conducted three months prior to the exam. We also find important differences across …

to misspecification, and ultimately leads to post-decision disappointment. Using statistical decision theory, we develop …

in this domain. In contrast, the average participant in our experiment is strikingly close to Bayesian in her belief …

We design and implement a novel experimental test of subjective expected utility theory and its generalizations. Our … function, but not with subjective utility theory. The theory is tested by gauging how subjects respond to price changes. A … majority of subjects respond to price changes in the direction predicted by the theory, but not to a degree that makes them …