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Behavioural economics has made many contributions to decision under uncertainty and to intertemporal choice. I will discuss these in the chapters to come. In this chapter I discuss contributions which are not particularly tied to risk and time. I start with prospect theory’s utility function. Prospect theory explains decision under risk, but its utility function has also been applied to other decision contexts.

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Reference-Dependence, Loss Aversion, and Endowment Effect

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  • 发表日期：

    2025年

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  • Han Bleichrodt

摘要

Behavioural economics has made many contributions to decision under uncertainty and to intertemporal choice. I will discuss these in the chapters to come. In this chapter I discuss contributions which are not particularly tied to risk and time. I start with prospect theory’s utility function. Prospect theory explains decision under risk, but its utility function has also been applied to other decision contexts.