Bardzo
ciekawie napisana praca o teorii perspektywy.
It is curious, then,
that so many years after the publication of the 1979 paper, there are
relatively few well-known and broadly accepted applications of prospect theory
in economics. One might be tempted to conclude that, even if prospect theory is
an excellent description of behavior in experimental settings, it is less
relevant outside the laboratory. In my view, this lesson would be incorrect.
Rather, the main reason that it has taken so long to apply prospect theory in
economics is that, in a sense that I make precise in the next section, it is
hard to know exactly how to apply it. While prospect theory contains many
remarkable insights, it is not ready-made for economic applications.
Over the past decade,
researchers in the field of behavioral economics have put a lot of thought into
how prospect theory should be applied in economic settings. This effort is
bearing fruit. A significant body of theoretical work now incorporates the
ideas in prospect theory into more traditional models of economic behavior, and
a growing body of empirical work tests the predictions of these new theories.
In this essay, after first reviewing prospect theory and the difficulties
inherent in applying it, I discuss some of this recent work. It is too early to
declare this research effort an unqualified success, but the rapid progress of
the last decade makes me optimistic that at least some of the insights of
prospect theory will eventually find a permanent and significant place in
mainstream economic analysis.
