Prospect theory Prospect theory was developed by Daniel Kahneman and Amos Tversky in 1979 as a psychologically realistic alternative to expected utility theory. It allows one to describe how people make choices in situations where they have to decide between alternatives that involve risk‚ e.g. in financial decisions. Starting from empirical evidence‚ the theory describes how individuals evaluate potential losses and gains. In the original formulation the term prospect referred to a lottery.
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Tax Description Income Tax is a tax on a person’s income‚ emoluments‚ profits arising from property‚ practice of profession‚ conduct of trade or business or on the pertinent items of gross income specified in the Tax Code of 1997 (Tax Code)‚ as amended‚ less the deductions and/or personal and additional exemptions‚ if any‚ authorized for such types of income‚ by the Tax Code‚ as amended‚ or other special laws. Types of Income Tax Personal Income Tax (PIT) is a direct tax levied on income
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Company X Problem Analysis Through extensive analysis from the customer satisfaction surveys‚ and research from the satisfaction task force‚ Company X found three major problems areas. The company’s programs reflect poor quality‚ the development times are taking longer than the projected due dates and a small portion of employees are discrediting the company name and values. Each of these problems has contributed to the main problem; the increasing rate at which Company X is losing customers
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policies and strategies of Nigerian government towards foreign direct investments are shaped by two principal objectives of desire for economic independence and the demand for economic development. Multi national corporations are expected to bring into Nigeria‚ foreign capital in the form of technical skills‚ entrepreneurship‚ technology and investment fund to boost economic activities thereby‚ rising the standard of living of Nigerian. The main issues in this paper relates to understanding the effects
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Prospect Theory: An Analysis of Decision under Risk Daniel Kahneman; Amos Tversky Econometrica‚ Vol. 47‚ No. 2. (Mar.‚ 1979)‚ pp. 263-292. Stable URL: http://links.jstor.org/sici?sici=0012-9682%28197903%2947%3A2%3C263%3APTAAOD%3E2.0.CO%3B2-3 Econometrica is currently published by The Econometric Society. Your use of the JSTOR archive indicates your acceptance of JSTOR’s Terms and Conditions of Use‚ available at http://www.jstor.org/about/terms.html. JSTOR’s Terms and Conditions of Use provides
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interviewed to determine their perception and rating of the problems influencing the development of sport at Nigerian universities. Thus‚ many problems of university athletes‚ especially concerning the administration‚ academic education‚ training programs and the lack of material and human resources‚ were reported. As a result of this study 14 recommendations are listed to improve university athletics and‚ by doing so‚ sport in general in Nigeria. Thus‚ they demand an improvement of physical education
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District‚ Arunachal Pradesh on 30 July 2010. OB.2009/Dibbin HEP/261 Su. R f: APSPC Dtlt-nagar‚ 2 ugu~t’ 2010 Sir‚ PleaSE; find enclosed herewith the following documents per1aming to the Pu lie Hearing meeting of Dibbin Hydro elec nr Project (120 MW) held at Com uni Ha‚ Nafra To m. West Kame’1 Disl ct Aruna::’1al Pradesh 1 o 30 July 2010 for your necessary ac 0 1. The mlnu es ate meeting including lews/sJ g stlonsl comme‚ lsi Objectlo S etc from the vanous spea e- and respo‚sl>s by
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AN APPARAISAL OF THE EFFECT OF INFLATION ON THE DELIVERY OF CONSTRUCTION PROJECT IN NIGERIA. SUMMITED BY SANUSI‚ AZEEZ OLUWAWEMIMO HND II QUANTITY SURVEYING REG: 093052006 A PROJECT REPORT TO DEPARTMENT OF QUANTITY SURVEYING‚ SCHOOL OF ENVIROMENTAL STUDIES‚ LAGOS STATE POLYTECHNIC IKORODU CAMPUS IN PARTIAL FULFILLMENT FOR THE AWARD OF HIGHER NATIONAL DIPLOMA IN DEPARTMENT OF QUANTITY SURVEYING 2.10 INTRODUCTION Inflation has been in existence in the construction industry
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To Tax or Not to Tax: The Problem of America Money‚ like a cookie‚ is something everybody wants‚ and when it is gone a person blames everybody else for its absence; realizing later they were the one to consume it in the first place. Taxes‚ since the beginning of an organized economy‚ have been argued over for centuries. At the end of 2012 after surviving the “end of the world‚” tax payers were faced with another apocalyptic situation‚ the Fiscal Cliff. It had the potential to raise taxes to outrageous
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Summary of the learning points (ranked by importance to you) Today’s class discussed the mental accounting for money management. 1. Prospect theory. The theory can be represented by a value function‚ as shown below. The value function starts from a reference point‚ and is normally concave for gains‚ and convex for losses. It is also steeper for losses than for gains. The theory intends to explain why people behave irrationally when making choices. 2. Framing effect. It refers
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