Difference between revisions of "Prospect theory"
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(Created page with "'''Prospect theory''' is a systematic study and set of results which describes many predictably irrational behaviors of people when selecting between prospective and uncertain...") |
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Latest revision as of 20:15, 9 January 2013
Prospect theory is a systematic study and set of results which describes many predictably irrational behaviors of people when selecting between prospective and uncertain outcomes. Applications of prospect theory are widely found in economics, consumer behavior, and sales tactics, and therefore have broad application to pricing strategy.