Prospect theory - Samenvattingen, Notities en Examens

What is prospect theory and loss aversion? - Models built on assumptions of rational behavior assumes that actors make decisions based on maximizing wealth or utility - In reality, however, people approach outcomes relative to some reference point (or current state) - Most importantly, people respond differently to perceived losses than to perceived gains o Losses are often weighted between 2 and 3 times as heavily as logically equivalent gains o Losing $10 hurts about as much as winning $2...

rational decision making → Traditional economic theory that people are rational actors rational choice/public choice → people act based on their self interest what does it mean to be a rational actor? → You are able to rank, order your preferences based on the expected utility of each option. → These rank ordered preferences are stable and transitive. → Having perfect information about all alternative possibilities. → Maximize your utility pure rationality → requires p...

Punctuated equilibrium - ️️Happens when attention of key decision makers becomes focused on a single issue or problem Generally happens when an issue hits a breaking point and attention shifts and becomes proportionately focused Some issues can't be solved incrementally what does it mean to be a rational actor? - ️️You are able to rank, order your preferences based on the expected utility of each option. These rank ordered preferences are stable and transitive. Having perfect ...

ECS2604 LABOUR ECONOMICS PAST EXAM PACK QUESTIONS AND ANSWERS (2020 – 2014) 2020 MAY/JUNE EXAM QUESTIONS AND ANSWERS 2020 SUMMARISED NOTES DISCLAIMER: Extreme care has been used to create this document, however the contents are provided “as is” without any representations or warranties, express or implied. This document is to be used for comparison, research and reference purposes ONLY. Directly submitting and/or reselling/ distribution / reproduction any part of this docum...

ACC 356 Midterm Exam | Complete Solutions (Verified) Tiffany Evans, a medical doctor and prospective client, has come to your office for the first time. Which is the most appropriate way to greet her? A. "Welcome to my office." B. "Welcome to my office, Dr. Evans." C. "Hi, Tiffany. Welcome to my office." D. "Welcome to my office, Ms. Evans." Financial planners earn compensation in the form of: 1. A percentage of assets managed. 2. An hourly rate or fee. 3. A commission...

CFRE Misc10 Step Fundraising Plan-per Murry - correct answer Identification---------------> Screening ------------> Information | Gift Response ------------------------------------------> Interest | | Prospect Response Appreciation | | Solicitation <--------------- Rating <------------------- Involvement 1. _______________________ 6. Involvement 2. Screening 7._________________ 3. _______________________ 8. Solicitation 4. Interest 9. _________________ 5. _______...

CPWA Exam Questions & Answers 2023/2024 $466K Tax Rates - ANSWER-3.8% Surtax + 0.9% Wage + 39.6% Qualified Dividends - ANSWER-Hold for 60 days during 121 day period Wash Sale Rule - ANSWER-Can't buy back within 30 days or within 61 days for reacquisition such as buying same stock or warrant. AGI Charitable Limits - ANSWER-Public / Private. 50 / 50 / 30 / 30. 30 / 30 / 20 / 20. Cash / STCG / LTCG / Property Gift & Estate Tax - ANSWER-40% / $5.4M Exemption / $2.1M Unified Pros...

Consumer Behavior Exam 3 - Questions with Verified Answers In a _____, the brand that has the best overall score, attribute goodness times importance summed across all of the brand's attributes, is the one consumers choose. brand-equivalent model resistive model compensatory model noncompensatory model brand-compliant model In a(n) _____, a negative rating on a key attribute leads to immediate rejection of the brand from the consideration set. evolutionary model expectancy-value model compens...

the large water features on the UTD campus designed by PWP landscape architects. - Answer-pictorial only the fountain at the Winspear Opera House in Dallas by Michel Desvigne and SmithGroup/JJR - Answer-pictorial and immersive the "isms" are a valuable linguistic tool as shorthand for the understanding and communication of a design style - Answer-true "personal strategies can be divided into two general types, both of which are highly relevant to designers" select the two ty...

rational decision making Traditional economic theory that people are rational actors rational choice/public choice people act based on their self interest what does it mean to be a rational actor? You are able to rank, order your preferences based on the expected utility of each option. These rank ordered preferences are stable and transitive. Having perfect information about all alternative possibilities. Maximize your utility pure rationality requires person to have...