Concept information
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business and management
management theory
management theory encyc
managerial decision making, ethics, and creativity
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educational process: societal perspectives
types of policy
social control policies
public policy
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educational process: societal perspectives
types of policy
social control policies
public policy
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crisis management
civil crisis management
decision making
the psychology underlying decision making
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crisis management
civil crisis management
decision making
the psychology underlying decision making
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learning and perception
cognitive processes
decision making
the psychology underlying decision making
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politics and international relations
governance
decision making
the psychology underlying decision making
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social psychology
judgment and decision making
decision making
the psychology underlying decision making
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business and management
management skills
decision making
the psychology underlying decision making
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process approach to leadership
situational leadership
decision making
the psychology underlying decision making
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cognitive psychology
thinking (psychology)
decision making
the psychology underlying decision making
Preferred term
prospect theory
Definition
- Prospect theory is the most influential behavioral theory of choice in the social sciences. Psychologists Daniel Kahneman and Amos Tversky created it in 1979 when they discovered that how someone thinks about a choice influences one's attitude toward risk. [Source: The Encyclopedia of Political Science; Prospect Theory]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/prospect_theory
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