Law, Psychology, and Morality
Download or Read eBook Law, Psychology, and Morality PDF written by Eyal Zamir and published by Oxford University Press, USA. This book was released on 2015 with total page 278 pages. Available in PDF, EPUB and Kindle.
| Author | : Eyal Zamir |
| Publisher | : Oxford University Press, USA |
| Total Pages | : 278 |
| Release | : 2015 |
| ISBN-10 | : 9780199972050 |
| ISBN-13 | : 0199972052 |
| Rating | : 4/5 (50 Downloads) |
Book Synopsis Law, Psychology, and Morality by : Eyal Zamir
Book excerpt: Prospect theory posits that people do not perceive outcomes as final states of wealth or welfare, but rather as gains or losses in relation to some reference point. People are generally loss averse: the disutility generated by a loss is greater than the utility produced by a commensurate gain. Loss aversion is related to such phenomena as the status quo and omission biases, the endowment effect, and escalation of commitment. The book systematically analyzes the relationships between loss aversion and the law.
