What are the major differences between expected utility theory and prospect theory?

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Microeconomics Theory and Applications with Calculus

ISBN: 978-0133019933

3rd edition

Authors: Jeffrey M. Perloff

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Question Posted: Dec 29, 2017 01:05 AM

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What are the major differences between expected utility theory and prospect theory?

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According to prospect theory people are concerned about gains and lossesthe changes in wealthrather ...View the full answer

Microeconomics Theory and Applications with Calculus

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