Avoiding Losses/taking Risks: Prospect Theory and International Conflict
University of Michigan Press, 1994 - 165 sidor
This volume is a comprehensive examination of the benefits and potential pitfalls of employing prospect theory---a leading alternative to expected utility as a theory of decision under risk---to understand and explain political behavior. The collection brings together both theoretical and empirical studies, thus grounding the conclusions about prospect theory's potential for enriching political analyses in an assessment of its performance in explaining actual cases.
The theoretical chapters provide an overview of the main hypotheses of prospect theory: people frame risk-taking decisions around a reference point, they tend to accept greater risk to prevent losses than to make gains, and they often perceive the devastation of a loss as greater than the benefit of a gain. The three case studies---Roosevelt's decision-making during the Munich crisis of 1938, Carter's April 1980 decision to rescue the American hostages in Iran, and Soviet behavior toward Syria in 1966-67---generally support these hypotheses. Nevertheless, the authors are frank about potentially difficult conceptual and methodological problems, making explicit reference to alternative explanations, such as the rational actor model, which posits the maximization of expected value.
Contributors to the volume include Jack Levy, Robert Jervis, Barbara Farnham, Rose McDermott, Audrey McInerney, and Eldar Shafir.
Resultat 1-3 av 14
Levy focuses on the potential of prospect theory to enhance the analysis of
international politics , examining the conceptual and methodological problems
associated with applying it in that context . He also attempts to develop some
criteria for ...
What this means is that analysts who apply prospect theory need to be quite
sensitive to the probabilities which decision - makers attach to various outcomes .
If probabilities are in the moderate range , the standard prospect theory
That is to say , the attempt to apply prospect theory to political events may pose a
danger to the integrity of the theory itself as ... Mitigating Factors Despite these
hazards , however , the potential rewards of applying prospect theory to political ...
Så tycker andra - Skriv en recension
Political Implications of Loss Aversion
Prospect Theory and Soviet Policy Towards
Andra upplagor - Visa alla
Bargaining and Learning in Recurring Crises: The Soviet-American, Egyptian ...
Russell J. Leng
Begränsad förhandsgranskning - 2000
Decisionmaking on War and Peace: The Cognitive-rational Debate
Nehemia Geva,Alex Mintz
Begränsad förhandsgranskning - 1997