👏 Thanks to all speakers for their insightful talks and to everyone who attended the sessions of the Workshop. We hope you felt at home at the @ua.es 🧠📚 We're already looking forward to the 2026 edition!
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop #Economics
Higher-order risk preferences have gained relevance over the past two decades, helping us better understand behaviors such as prevention. This talk shows how these preferences can be studied within prospect theory and the novel predictions that emerge from this research.
#WorkshopUA #ProspectTheory
Prospect theory explains many puzzles in finance that are incompatible with standard economic theory. This talk gives an overview of the contributions of prospect theory to financial decision making.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop
Prospect theory has improved decision-making in the health sector. This talk offers an overview of its applications and how it has contributed to the development of better health policies.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop
Although prospect theory is a theory of decision under uncertainty, its ideas have also been applied to contexts without risk and uncertainty. This talk gives an overview of the main applications and what we have learned from them.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni
Prospect theory poses significant challenges for econometric data analysis. This session dives into those challenges and explores how they can be addressed to better capture behavioral patterns in empirical research.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni
While people are ambiguity averse for some sources, they are not for others. This source preference was developed by Tversky towards the end of his life, and this talk explains how it has been incorporated into economic models.
#WorkshopUA #ProspectTheory #BehavioralEconomics
Prospect theory explains that people are averse to ambiguity. However, as this talk shows, they are not equally averse to all types of ambiguity — it’s crucial whether uncertainty can or cannot be known.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop
📸 What a day! We wrap up the first day of the Prospect Theory: State of the Art Workshop with a big thank you to all participants and speakers for their brilliant contributions, insights, and energy. 🙌💬
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop
🧠⚖️ Prospect theory cannot explain all behavioral patterns. This talk challenges prospect theory by indicating where the theory does not predict well and how it can be improved.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop #ScienceMeetsPractice
🧠⚖️ Prospect theory cannot explain all behavioral patterns. This talk challenges prospect theory by indicating where the theory does not predict well and how it can be improved.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop #ScienceMeetsPractice #Economics
🧠📐Measuring prospect theory is complex, as it involves various behavioral parameters. This talk gives an overview of the methods used to approach this challenge.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop #ScienceMeetsPractice #Economics #DecisionScience
To apply prospect theory to decision under uncertainty requires specifying how people form subjective beliefs. This talk explores the formation of beliefs both from an empirical 🔍 and from a theoretical 📚 point of view.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop
Prospect theory assumes that outcomes are coded as gains and losses from a reference point, but it is silent on how the reference point is formed. This talk explores the formation of reference points.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop #ScienceMeetsPractice
🎓📊🧩This talk explores how errors in the perception of choice options can explain existing empirical evidence — offering a new lens 🔍 through which to understand decision-making behavior.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop #ScienceMeetsPractice #Economics
Their work, titled “Loss Aversion”, explores a key insight of prospect theory. This talk gives an overview of definitions of loss aversion and how it can be measured.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop #ScienceMeetsPractice #Economics #DecisionScience
A central insight of prospect theory is that people weight probabilities and are especially sensitive to probabilities near 0 and near 1. Rich Gonzalez shows how probability weighting can be modeled and empirically measured.
#WorkshopUA #ProspectTheory #BehavioralEconomics #ResearchWorkshop
🧠📊John Quiggin showed why the ranking of outcomes is important in modeling probability weighting. In this talk he and Enrico Diecidue will explain the psychological intuition of rank dependence and why it leads to sound model
#WorkshopUA #ProspectTheory
🎙️ Peter Wakker (@rsmerasmus.bsky.social) has delivered an insightful presentation titled “Historical Background”, talking about the history of Prospect Theory and providing some until-now unknown insights based on his past collaboration with both Tversky and Kahneman.
#WorkshopUA #ProspectTheory
👋 Han Bleichrodt, our colleague from the Department of Economic Foundations and member of both the organizing and scientific committees, has given the welcome address to all participants.
#WorkshopUA #ProspectTheory #BehavioralEconomics #UAlumni #ResearchWorkshop #ScienceMeetsPractice #Economics
🧠 Your Brain’s Secret Saboteurs:
How Hidden Biases Hijack Your Decisions
www.buzzsprout.com/2405788/epis...
helioxpodcast.substack.com/publish/post...
#BehavioralScience #CognitivePsychology #DecisionMaking #ProspectTheory #Biases #MindHacks #Thinking #Psychology #HumanMind #Rationality
Brilliant mind. Kahneman's work laid the foundation for #behavioraleconomics, a field that studies how #psychological factors influence #economic decisions.
#DanielKahneman, Israeli-American #NobelPrize winner, died by assisted suicide. www.jpost.com/breaking-new... #ProspectTheory
Paragraph of text from Paul Slavic's note to Daniel Kahneman, on the importance of studying how people value life
Compelling new article by Paul Slovic. Reflects on how we value life itself. Includes his note to Daniel Kahneman shortly before DK passed away
The full article is open access >>> www.cambridge.org/core/journal...
#psychicnumbing #kahneman #biases #valuinglife #savinglives #prospecttheory
Power Poilt Folie mit dem Titel Prospect Theory. Sie zeigt ein Diagramm, das veranschaulicht, dass Personen Verluste stärker gewichten als Gewinne der gleichen Höhe.
Das ist auch deshalb relevant, weil Menschen Verluste (z.B. von Bargeld) stärker gewichten als Gewinne und besonders darauf achten, Verluste zu vermeiden. Dieses Verhalten haben Daniel Kahneman and Amos Tversky bereits in den 70ern in der #ProspectTheory beschrieben: www.jstor.org/stable/1914185
Also "fast die Hälfte überlebt" ist definitiv besseres Marketing als "mehr als die Hälfte stirbt". #ProspectTheory
📚 These insights come from a blend of #ProspectTheory and real-world sales data, a true fusion of behavioral economics and practical sales wisdom. #TheJoltEffect #SalesData
🧠 Applying #ProspectTheory to sales: People become risk-averse when they feel they're winning but take risks when they feel they're losing. This has huge implications for how we sell. #BehavioralEconomics
🚀 Fresh #SalesInsights: A groundbreaking study shows what really derails B2B sales and how #ProspectTheory can help founders craft an effective 3-part sales playbook. A thread 🧵 (1/10)
