![]() ![]() Prospect theory states that decision-making depends on choosing among options that may themselves rest on biased judgments. It was not originally intended to provide wider generalization beyond that domain, although it has subsequently been used to explain a wide variety of phenomena across many fields, including law, political science, and economics. #Social hedonic editing seriesNevertheless, the domain in which prospect theory explored human decision-making was primarily based on choices among a series of financial bets and gambles. Prospect theory was based on a series of experimental empirical demonstrations of actual human choice behavior it was developed to present a descriptively accurate model of human decision-making. The model has been imported into a number of fields and has been used to analyze various aspects of political decision-making, especially in international relations. Prospect theory, also called loss-aversion theory, psychological theory of decision-making under conditions of risk, which was developed by psychologists Daniel Kahneman and Amos Tversky and originally published in 1979 in Econometrica. SpaceNext50 Britannica presents SpaceNext50, From the race to the Moon to space stewardship, we explore a wide range of subjects that feed our curiosity about space!.Learn about the major environmental problems facing our planet and what can be done about them! Saving Earth Britannica Presents Earth’s To-Do List for the 21st Century.Britannica Beyond We’ve created a new place where questions are at the center of learning.100 Women Britannica celebrates the centennial of the Nineteenth Amendment, highlighting suffragists and history-making politicians. #Social hedonic editing how toCOVID-19 Portal While this global health crisis continues to evolve, it can be useful to look to past pandemics to better understand how to respond today.Student Portal Britannica is the ultimate student resource for key school subjects like history, government, literature, and more.This Time in History In these videos, find out what happened this month (or any month!) in history.#WTFact Videos In #WTFact Britannica shares some of the most bizarre facts we can find.Demystified Videos In Demystified, Britannica has all the answers to your burning questions.Britannica Explains In these videos, Britannica explains a variety of topics and answers frequently asked questions.Britannica Classics Check out these retro videos from Encyclopedia Britannica’s archives. ![]()
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