A Behavioral Model of Rational Choice (Kahneman & Tversky) on “Stuff I Keep Re‑reading”, a list by Marcus Ellison on TheLysts.
Details
Photo
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Name
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Field
Behavioral economics
Year
1979
My take
Prospect theory is basically: people hate losing more than they love winning. Explains everything from why Bears fans are permanently stressed to why users freak out more over losing data than they celebrate new features.
TheLysts