"We present a theory of choice among lotteries in which the decision maker's attention is drawn to (precisely defined … distinguish it from Prospect Theory, which we test"--National Bureau of Economic Research web site …

We present a theory of choice among lotteries in which the decision maker's attention is drawn to (precisely defined … distinguish it from Prospect Theory, which we test. We also use the model to modify the standard asset pricing framework, and use …

macroeconomic volatility.Institutional subscribers to the NBER working paper series, and residents of developing countries may …