Neoclassical Theory Versus Prospect Theory: Evidence from the Marketplace
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چکیده
منابع مشابه
Nber Working Paper Series Neoclassical Theory versus Prospect Theory: Evidence from the Marketplace
Neoclassical theory postulates that preferences between two goods are independent of the consumer’s current entitlements. Several experimental studies have recently provided strong evidence that this basic independence assumption, which is used in most theoretical and applied economic models to assess the operation of markets, is rarely appropriate. These results, which clearly contradict close...
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ژورنال
عنوان ژورنال: Econometrica
سال: 2004
ISSN: 0012-9682,1468-0262
DOI: 10.1111/j.1468-0262.2004.00502.x