Authors
Amos Tversky, Daniel Kahneman
Publication date
1989/9/11
Book
Multiple criteria decision making and risk analysis using microcomputers
Pages
81-126
Publisher
Springer Berlin Heidelberg
Description
Alternative descriptions of a decision problem often give rise to different preferences, contrary to the principle of invariance that underlines the rational theory of choice. Violations of this theory are traced to the rules that govern the framing of decision and to the psychological principles of evaluation embodied in prospect theory. Invariance and dominance are obeyed when their application is transparent and often violated in other situations. Because these rules are normatively essential but descriptively invalid, no theory of choice can be both normatively adequate and descriptively accurate.
Total citations
19891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202446588989851008210710010197117130161171178210242253251264306326352357387422403408474460386358347334138
Scholar articles
A Tversky, D Kahneman - Multiple criteria decision making and risk analysis …, 1989
A Tversky, D Kahneman - Economic Theory, 1986