International Research journal of Management Science and Technology
ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST
**Need Help in Content editing, Data Analysis.
Adv For Editing Content
BEHAVIOURAL DECISION THEORY: A THEORETICAL FOUNDATION
1 Author(s): DIVYA SETHI
Vol - 8, Issue- 3 , Page(s) : 91 - 95 (2017 ) DOI : https://doi.org/10.32804/IRJMST
The paper discusses some seminal papers in the field of behavioural decision theory from some of the very eminent researchers.They have played a major role in shaping the concepts related to behavioural decision theory that we study today.The papers that I have discussed here include “Gambling With the House Money and Trying to Break Even: The Effects of Prior Outcomes on Risky Choice” by Thaler and Johnson, “Judgment Under Uncertainty: Heuristics and Biases” by Tversky and Kahneman, “Prospect Theory: An Analysis of Decision Under Risk” by Kahneman and Tversky and “Advances in Prospect Theory: Cumulative Representation of Uncertainty” by Tversky and Kahneman. The papers discuss concepts such as effect of prior outcomes on risky choices, heuristics and biases and a detailed account of prospect theory, including the advances done in it.