The scaling of my x axis is a bit weird, but hope you guys still understood it!
PeteJudo
How do your videos not get more views?!?!? They're so well produced and informative.
AndysJackson
I like the idea of explaining something at different levels! Even though it is the same underlying concept, there is an 'aha!' moment with each new level. Well done!
MarkStanley
your videos are really helping me in a school project about behavioural econ ! thanks a lot !
rayeza
Thanks Pete, this helped me a lot understanding the Prospect theory! Great Video!
ezy_
On top of the informative content, the video also made me laugh!! Loved it, keep it up!
piotrlipinski
I want to apply this to health messaging; do you think i can use entitlement as a reference point, such that people feel entitled to smoking vs entitled to their health? thanks for this great video!
kated
Sir you explained really of respect and love from Pakistan 😇
Lina-grdy
So what kind of models can we use for a more repeated choice? Can we use the same model but change some parameters or something? Or can we get some data of a certain group for a certain behavior and use these data to get their specific parameters?
YuMeng
I think one more thinking about gains and losses is predicting your behaviour based on your emotion toward gains and losses. The feeling of losing 10 pounds is much worse than the feeling of receiving the exact same amount. That's why people are less likely to accept the bid of winning 10-20 pounds or losing 10 pounds. The prospect theory or reference point effect also explains how investors are willing to hold losing stock and sell winning stock very quickly.
Sorry for my bad English if I wrote anything wrong.
ManhNguyen-uc
did you not mention the value function at all? I wonder if you can use the value function and loss aversion to explain insurances and lotteries.
dww
Do you explain cumulative prospect theory?
DistortedV
Very good video to introduce the high level idea of prospect theory. Just wandering if you can provide some papers related to the last part, saying people would be shifted from prospect theory framework to a rational model after the learning process? Thank you
pengliu
I like your video, however at the graduate level you should have actually shown the assumptions behind Von Neumann Morgenstern expected utility and how prospect theory generalized it with a reference point to a status quo and weighting function for the probabilities.
izzyc
Absolutely was not a different explanation for different levels!!
JOHNSMITH-verq
As an engineering student and crypto guy, most YT-videos I watch have graphs in them 😅😅😅
johannesminge
"the were obviously, the original labels used for Nobel prize winning paper" 😂
Also whats your twitter handle
affansiddhiqui
This theory Is the same of fechner-weber law. The same
