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.
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... explain and predict political outcomes , this collection of articles suggests
possible elaborations of the theory itself and indicates a direction for the
continued collaboration of political scientists and psychologists in applying
prospect theory .
Evidence suggests that during the period of intense East - West rivalry Soviet
leaders behaved in a manner similar to Tversky and Kahneman ' s subjects when
faced with similar situations . This perspective is interesting because it differs
This suggests that it is not enough for the analyst to demonstrate that the
observed behavior is consistent with prospect theory . It is also necessary to
demonstrate that prospect theory provides a better explanation of that behavior
than does ...
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Political Implications of Loss Aversion
Prospect Theory and Soviet Policy Towards
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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