The Ambiguity of Black Swans

Donald J. Brown ()
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Donald J. Brown: Yale University

A chapter in Affective Decision Making Under Uncertainty, 2020, pp 9-16 from Springer

Abstract: Abstract The fourfold pattern of decision-making under risk, discussed in (Kahneman 2011), is described by the author as “one of the core achievements of prospect theory”. It is a 2 × 2 contingency table, where the columns are high probability, the certainty effect, and low probability, the possibility effect, and the rows are gains and losses from a given status quo.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-030-59512-8_2

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DOI: 10.1007/978-3-030-59512-8_2

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