Kahneman and Tversky's prospect theory, which they developed to contradict expected utility theory, is obviously an interesting result.
But, after their experiments has anyone tried to completement the theory? Or to contradict it?
$\begingroup$
$\endgroup$
-
$\begingroup$ Have you tried googling it? $\endgroup$ – Giskard Nov 23 '18 at 20:26
-
1$\begingroup$ Yes, but I know here there are a lot of people who study those things and maybe I could receive some interesting hints on what to look for $\endgroup$ – Zhang_anlan Nov 23 '18 at 20:36
$\begingroup$
$\endgroup$
A good place to start would be the book Prospect Theory: For Risk and Ambiguity, by Peter Wakker (2010, Cambridge University Press). There is an entire area of economic theory called decision theory which studies models of decision making under uncertainty --typically, models which deviate from the classical expected utility maximization model in some way. Decision theory involves both theoretical results and experimental tests. Prospect theory is only one among many models that decision theorists consider.
