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Prospect theory as theoretical construct

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Keil, Mark; Mann, Joan; Rai, Arun: Why Software Projects Escalate - An Empirical Analysis and Test of Four Theoretical Models; in: MIS Quarterly, Vol. 24 (2000), No. 4, pp. 631-664. The authors describe that: "Software projects can often spiral out of control to become ‘runaway systems’…".  Keil et al. define escalation behaviour as constantly adding resources to the project.  Thus escalated projects typically overrun their schedule and budget.  The authors describe the case of the Statewide Automated Child Support System (SACSS) of California’s Dept. of Social Services.  The project ...
—that individuals rely on to understand and respond to events. In simpler terms, people have, through their lifetimes, built series of mental emotional filters. They use these filters to make sense of the world. The choices they then make are influenced by their frame or emotional filters. In psychology, framing is influenced by the background of a context choice and the way in which the question is worded (see Framing effect (psychology) ). To clarify: When one seeks to explain an event, the understanding often depends on the frame referred to. If a friend rapidly closes and opens an eye, we will respond very differently ...
Nudging Antitrust? Commissioner Rosch's Weak Case for “Behavioral ...
Increasingly, the notion that updating antitrust policy with the insights of behavioral economics would significantly improve matters for consumers.   Others have called for more major surgery, favoring an outright rejection of the current economic foundation of antitrust policy — and especially the portions of the foundation “Made in Chicago” — in favor of a new regime based on behavioral economics.  There are plenty of antitrust scholars who’ve begun to make this case, with perhaps Professor Stucke having been the most prolific on this score.  And behavioral economics has provided the intellectual ... market research, surveys and trends
The Greater Fool Theory: Managing and Modeling Risk - The Finance ...
The most dramatic financial meltdown since the Great Depression occurred despite recent advances in risk management techniques. Because of a fervent but unfounded belief in some quarters that VaR (value at risk) measures worst-case scenarios, financial institutions were exposed to crippling losses when VaR models failed to anticipate the extent of potential price movements, in some cases by whole orders of magnitude.   Regulators, bank executives, and risk managers may now be tempted to reject the VaR construct as a theory that has, at best, a tenuous connection to reality. But they need to examine whether the methodology ... market research, surveys and trends


Endowment effects? “Even” with half a million on the table!
May 20, 2009 ... theoretical prediction is driven by the assumption of loss aversion. ... Although prospect theory does not specify the location of a ..... sion making under risk using lotteries with outcomes as high as half a million euros. ... always construct identical risky lotteries over cash prizes or physical ... industry trends, business articles and survey research
As in Margo and Siegfried, Seigfried and Sanderson assert that the ...
economics degrees were at a relative high of 2.3 percent of all U.S. .... With the exception of theoretical work on screening and signaling and the role of ... In the 1970s, Tversky and Kahneman set out to construct a theory to explain the ... their “prospect theory,” as used in “behavioral economics” today. ... industry trends, business articles and survey research
Cur cognition: Do stray dogs have qualitatively different kinds of canine minds?
mentioning those good-natured pit bulls whose unearned reputations often precede them because of a few maladjusted, vicious outliers. Yet I’ve never seen anything quite like the canines of Sofia, Bulgaria, from where I’ve just returned after a week of teaching at a cognitive science summer school and from listening to a surfeit of long-forgotten, uplifting '80s pop music, which the weary and unshaven Bulgarian taxi drivers seem to adore to no end. Some recent work by University of Florida psychologist Monique Udell and her colleagues suggests that it’s not just my imagination that stray dogs are ... market trends, news research and surveys resources


prospect theory as theoretical construct
Journal of Business & Economic Research – January 2007. Volume 5, Number 1. Using Curvilinear Spline Regression. To Empirically Test Relationships ... technology research, surveys study and trend statistics
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models of risky decision making such as prospect theory as well as ... beyond its role as an explanatory theoretical construct in finance theory and ... technology research, surveys study and trend statistics
Externalities, Prospect Theory, and Social Construction: When Will ...
prospect theory, and social construction—can add to the current theoretical views of problem definition, agenda access, and policy design. This per- ...
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Might fractal geometry finally reconcile general relativity and ...
The review of this book, in the Washington Post, by a respected theoretical physicist , presents a nice layman’s overview of some of the mysteries in theoretical physics. It can be found at the same link in the paragraph, above this one: “From The Washington Post’s Book World/washingtonpostDOTcom Reviewed by James Trefil. Evolutionary biologists tell us that the human brain developed for one purpose: to allow our ancestors to survive in the African savannah millions of years ago. And yet this organ, whose main duty was to keep us from the attention of the neighborhood carnivores, seems capable of comprehending ...
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