How did risks of the Iran war get misread? Kahneman and Tversky’s Prospect Theory may have answers
At their core, they are bets, and can hence be viewed through the lens of risk—not in a vague rhetorical sense, but by means of rigorous psychological analysis of the kind that forms part of Daniel Kahneman and Amos Tversky’s Prospect Theory, particularly its four-fold pattern of risk attitudes.
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