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Unnamed comments on Prospect Theory: A Framework for Understanding Cognitive Biases - Less Wrong

66 Post author: Yvain 10 July 2011 05:20AM

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Comment author: Unnamed 11 July 2011 02:40:24AM 4 points [-]

I recommend Kahneman & Tversky's 1984 paper Choices, Values, and Frames (republished as chp 1 in their book of the same name) as a more readable (and shorter) introduction to prospect theory than their 1979 paper which Yvain has linked. It contains several examples demonstrating consequences of the shape of the functions and exploring the possibilities for framing effects.