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CHOICES, VALUES, AND FRAMES
Daniel Kahneman and Amos Tversky, Eds.
Cambridge University Press, 2000

LEARNING OBJECTIVES - This course was designed to allow the reader to:
For Chapters 1-21:• Apply the sensitivity of choice to formulation, context, and procedure
• Evaluate the prospect theory, the analysis of choice under risk, the cumulative representation of uncertainty, and compound invariant weightings in prospect theory
• Examine field evidence for prospect theory
• Know the effects of belief on decision under uncertainty
• Explore the evidence of loss aversion in riskless choice
• Know what the endowment effect is
• Comprehend status-quo bias
• Know what nonreversible indifference curves represent
• Evaluate the theory of reference-dependent preferences
• Determine how diminishing marginal utility of wealth does not diminish risk aversion
• Explore the relation of rational choice to the framing of decisions
• Explore the relation of framing and probability distortion to insurance decisions
• Analyze mental accounting, the positive theory of consumer choice, myopic loss aversion
• Know what the equity premium puzzle is
• Determine how fairness can be a constraint on profit seeking
• Explore the “money illusion” and the reluctance of investors to realize their losses
• Explore predictions of prospect theory for the labor supply

For Chapters 22-42:
• Apply a cognitive analysis of risk taking
• Explore an experimental perspective on overconfidence and excess entry
• Demonstrate judicial choice and discrepancies between measures of economic values
• Explore contrasting rational and psychological analyses of political choice
• Apply a cognitive analysis of conflict resolution
• Know what the construction of preference is related to
• Do contingent weighting
• Know what context-dependent preferences are
• Assess ambiguity aversion
• Assess the implications of “attribute evaluability”
• Use sequence preferences in evaluating behavior
• Analyze intertemporal choice anomalies
• Know conceptions of reason-based choice
• Recognize some characteristics of attitudes and of the core process of affective valuation
• Know about experienced utility and evaluation by moments
• Explore endowments and contrast in judgments of well-being
• Recognize the effects of purchase quantity and timing

This is the classic book in Behavioral Economics. Kahneman and Tversky noticed that traditional economic models of decision making did not account for psychological factors. In an earlier book they pointed to these discrepancies, but in this book they drew on research from many colleagues whose work had been spurred and cross-fertilized by theirs.

Daniel Kahneman, Ph.D., is Eugene Higgins Professor of Psychology and professor of public affairs at Princeton University. He is a recipient of the Nobel Prize.

Amos Tversky was a cognitive and mathematical psychologist, a pioneer of cognitive science, and a key figure in the discovery of systematic human cognitive bias and handling of risk. He taught at the Hebrew University in Jerusalem before moving to Stanford University.

28 CE credits; 860 pages (including Appendices)
14 CE Credits Chaps. 1-21, 390 pages
14 CE Credits Chaps. 22-42, 382 pages

Check both items to order book and test, or check only the item you want.

Order book or tape: $61.00 . Order code CHVF1
Order test (All Chapters): $340.00 . Order code CHVFT 28 CE Credits
Email test $0.00 Fax Test $5.00 Mail Test $5.00
Order test (Chapters 1-21): $200.00 . Order code CHVFT1 14 CE Credits Chaps. 1-21, 390 pages
Email test $0.00 Fax Test $5.00 Mail Test $5.00
Order test (Chapters 22-42): $200.00 . Order code CHVFT2 14 CE Credits Chaps. 22-42, 382 pages
Email test $0.00 Fax Test $5.00 Mail Test $5.00

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