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ERIC Number: EJ893139
Record Type: Journal
Publication Date: 2010
Pages: 7
Abstractor: As Provided
Reference Count: 6
ISSN: ISSN-0141-982X
Teaching Prospect Theory with the "Deal or No Deal" Game Show
Baker, Ardith; Bittner, Teresa; Makrigeorgis, Christos; Johnson, Gloria; Haefner, Joseph
Teaching Statistics: An International Journal for Teachers, v32 n3 p81-87 Aut 2010
Recent evidence indicates that decision makers are more sensitive to potential losses than gains. Loss aversion psychology has led behavioural economists to look beyond expected utility by developing "prospect theory." We demonstrate this theory using the "Deal or No Deal" game show.
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A