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Destructive construction and constructive conflicts

Pages 391-392 | Published online: 18 Feb 2014
 

Notes

1 Prospect theory is a behavioural economic theory. It states that people make decisions based on the potential value of losses and gains rather than on the final outcome, and that they evaluate these losses and gains according to the value function that is ‘kinked’ at the status quo with a loss aversion coefficient of about two or a bit more.

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