Journal articles on the topic 'Prospect theory application Objectives'

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1

Monroe, Thomas, Mario Beruvides, and Víctor Tercero-Gómez. "Derivation and Application of the Subjective–Objective Probability Relationship from Entropy: The Entropy Decision Risk Model (EDRM)." Systems 8, no. 4 (November 20, 2020): 46. http://dx.doi.org/10.3390/systems8040046.

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The uncertainty, or entropy, of an atom of an ideal gas being in a certain energy state mirrors the way people perceive uncertainty in the making of decisions, uncertainty that is related to unmeasurable subjective probability. It is well established that subjects evaluate risk decisions involving uncertain choices using subjective probability rather than objective, which is usually calculated using empirically derived decision weights, such as those described in Prospect Theory; however, an exact objective–subjective probability relationship can be derived from statistical mechanics and information theory using Kullback–Leibler entropy divergence. The resulting Entropy Decision Risk Model (EDRM) is based upon proximity or nearness to a state and is predictive rather than descriptive. A priori EDRM, without factors or corrections, accurately aligns with the results of prior decision making under uncertainty (DMUU) studies, including Prospect Theory and others. This research is a first step towards the broader effort of quantifying financial, programmatic, and safety risk decisions in fungible terms, which applies proximity (i.e., subjective probability) with power utility to evaluate choice preference of gains, losses, and mixtures of the two in terms of a new parameter referred to as Prospect. To facilitate evaluation of the EDRM against prior studies reported in terms of the percentage of subjects selecting a choice, the Percentage Evaluation Model (PEM) is introduced to convert choice value results into subject response percentages, thereby permitting direct comparison of a utility model for the first time.
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GRECHKO, Mikhail V., and Larisa A. KOBINA. "Effect of cognitive distortions caused by errors in information processing on decision-making by economic agents." Regional Economics: Theory and Practice 19, no. 1 (January 15, 2021): 121–38. http://dx.doi.org/10.24891/re.19.1.121.

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Subject. This article examines the issues related to the cognitive potential of behavioral and institutional economics and irrationality in decision-making. Objectives. The article aims to develop an application toolkit to investigate the mechanism of cognitive biases influence on decision-making by economic agents. Methods. For the study, we used the prospect theory and expert survey techniques. Results. Based on the cognitive potential of interdisciplinary decision theory, the article proves that most economic agents in the face of incomplete information prefer individual information, rather than a priori probability information. Conclusions. The results of the study can be useful to create a tool to manage consumer choice.
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Liu, An Ying, and Fa Jie Wei. "An Improved Risk Analysis Method of Advanced Materials." Advanced Materials Research 382 (November 2011): 34–38. http://dx.doi.org/10.4028/www.scientific.net/amr.382.34.

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Most new materials are not mature since there are all kinds of uncertainties due to many factors, such as technical complexity, shifting objectives/scopes, and poor management. Application of a new material means we must accept all opportunities and threats, while it exists a lot of uncertain information in the process of decision making. This paper reviews the traditional methods of risk analysis, such as risk matrix, and introduces uncertain data in decision to describe two attributes of risk —probability and consequence. The data of risk collected is then processed based on prospect theory, take into account the behavior patterns and psychological factors which are not aware of in a traditional approach. At last, an example proves the improved risk analysis method is rational and scientific.
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Hu, Xijian, Jiaqi Teng, Wei Wu, Yan Li, and Yuhong Sheng. "Research on Airport Scheduling of FGAP Multi-Objective Programming Model Based on Uncertainty Theory." Symmetry 13, no. 10 (October 12, 2021): 1915. http://dx.doi.org/10.3390/sym13101915.

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Based on the current background of airport management and flight-gate scheduling in China, this paper takes Shanghai Pudong International Airport’s flight number of the rising and landing aircraft in a certain day as the research object, and it establishes an uncertain FGAP (Flight-Gate Assignment Problem) multi-objective programming model under the framework of uncertainty theory. Using genetic algorithm to solve the model, the specific flight-gate assignment scheduling plan is given. The research results show that the model in this paper can effectively alleviate the problems, such as unbalanced flight-gate allocation and excessive operating pressure of a single gate, in the conventional model, and make the allocation and scheduling more reasonable and efficient. Finally, we give the future application of uncertainty theory in finance and management, as well as the prospect of combining it with symmetry in physics.
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Hu, Xijian, Jiaqi Teng, Wei Wu, Yan Li, and Yuhong Sheng. "Research on Airport Scheduling of FGAP Multi-Objective Programming Model Based on Uncertainty Theory." Symmetry 13, no. 10 (October 12, 2021): 1915. http://dx.doi.org/10.3390/sym13101915.

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Based on the current background of airport management and flight-gate scheduling in China, this paper takes Shanghai Pudong International Airport’s flight number of the rising and landing aircraft in a certain day as the research object, and it establishes an uncertain FGAP (Flight-Gate Assignment Problem) multi-objective programming model under the framework of uncertainty theory. Using genetic algorithm to solve the model, the specific flight-gate assignment scheduling plan is given. The research results show that the model in this paper can effectively alleviate the problems, such as unbalanced flight-gate allocation and excessive operating pressure of a single gate, in the conventional model, and make the allocation and scheduling more reasonable and efficient. Finally, we give the future application of uncertainty theory in finance and management, as well as the prospect of combining it with symmetry in physics.
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Xiao, Yun, Guangmin Wang, and Meng Xu. "Prospect Theory-Based Two-Sided Satisfied and Stable Matching Mechanism for the Shared Parking Slots Problem." Journal of Advanced Transportation 2022 (December 26, 2022): 1–19. http://dx.doi.org/10.1155/2022/6739995.

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The contradiction between the dramatic increase in the aggregate number of automobiles and the short supply of parking spaces leads to parking difficulties. Sharing mode helps improve the efficiency of existing parking spaces, increase resource utilization, and alleviate the difficulty of parking. This paper focuses on the matching mechanism in the shared parking slots problem, which involves three agents: shared parking suppliers, shared parking demanders, and shared parking platform. We propose a prospect theory-based two-sided satisfied and stable matching model (PT-TSSM) with two objectives to maximize the satisfaction degree of both shared parking demanders and shared parking suppliers. Numerical experiments are illustrated to demonstrate the efficiency of the proposed model. Moreover, the PT-TSSM model is compared with the other two shared parking mechanisms. The proposed model considers the satisfaction degrees of both shared parking demanders and suppliers, while first book first serve (FBFS) cares only one side of the participants. And compared with deferred acceptance (DA), our model not only takes two-sided stable matching into account but also considers the satisfaction degree of all the demand and supply participants, which obtain a two-sided satisfied and stable matching scheme.
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Akmarov, P. B., and O. P. Knyazeva. "Trends and prospects for accounting automation in agriculture." International Accounting 23, no. 3 (March 16, 2020): 276–85. http://dx.doi.org/10.24891/ia.23.3.276.

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Subject. This article analyzes the reasons of lagging of accounting automation in agriculture behind other sectors of the economy, as well as the trends in its development in the context of Russia's digital economy formation. Objectives. The article aims to highlight the importance of accounting automation in the development of production, the current trends in information technologies application in the agricultural industry, and the prospects for their development in the management of enterprises and accounting organization. Methods. For the study, we used statistical inquiry, classification, generalization and grouping. Results. The article talks about the cost-effectiveness of the introduction of modern accounting automation systems. It offers a promising version of agricultural accounting automation technologies based on the application of cloud computing and remote databases. The article also describes the specifics of the application of accounting automation programs in agricultural organizations. The case of the agricultural industry of Udmurtia shows the impact of accounting automation on the efficiency of production. Conclusions and Relevance. Automation of accounting in agriculture is an integral part of the development system of the Russian digital economy. This material will be useful to the management and accounting services of agricultural organizations in working out development plans and improving management, academic and pedagogical workers to assess the current state of automation of accounting and solving future problems of informatization of management in the agricultural sector. The results of the study can be applied in the theory and practice of accounting automation.
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SAFONOVA, Margarita F., and Aleksei Yu ALEKSEENKO. "Artificial intelligence technologies: Prospects for use in the company’s internal audit." International Accounting 25, no. 12 (December 15, 2022): 1403–27. http://dx.doi.org/10.24891/ia.25.12.1403.

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Subject. This article studies the trends in the development of artificial intelligence technologies in the field of internal audit. Objectives. The article aims to highlight the main trends in the development of artificial intelligence technologies in the field of internal audit, substantiating the prospects for the application of such technologies in the context of the development of a new concept of internal audit. Methods. For the study, we used analysis and synthesis, induction and deduction, systems approach, and the computational and graphic, and accounting and analytical methods. Results. The article reveals the prerequisites for the discrepancy between business expectations aimed at obtaining advisory support in making management decisions and the existing paradigm of internal audit, focused on testing the internal control and risk management system. The analysis of the existing machine learning methods in the context of its potential applicability in the internal auditor’s work helped identify key areas for using machine learning to improve the efficiency of performing audit procedures. Conclusions and Relevance. Machine learning as a field of knowledge of the theory of artificial intelligence can help automate the routine processes of internal audit and orient this function in the field of information and consulting support for business, contributing to its shifting away from control and audit activities. The use of individual elements of artificial intelligence technology contributes to improving the efficiency of internal audit. The results of the study can be used both for practical application by internal audit services, and for the development of the theory and practice of this field of knowledge.
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9

Pavlov, Ivan. "Present and Perspectives of the Adult Education Theory in the System of Andragogical Sciences." Lifelong Learning 5, no. 1 (2015): 8–28. http://dx.doi.org/10.11118/lifele201505018.

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The adult education theory belongs to the fundamental theoretical disciplines of andragogy and the development of its fundamental assumptions is an important prerequisite for the development of andragogy. The current level of its terminology and system apparatus in comparison to other disciplines of andragogy currently does not fully enable to develop primarily practical-application functions, and thus leaves its potential unfulfilled. Building of an education theory on interdisciplinary, multidisciplinary and trans-disciplinary principles is now legitimate and allows the use of research results of other sciences (philosophy, anthropology, pedagogy, sociology, psychology, ethics, cultural studies, etc.). The adult education theory cannot be built only as a theory for theory (normative aspect), but it should develop its own exploratory, explanatory and analytical potential for the needs of support of self-development of an adult. It envisages the creation of a scientifically justified system of adult education and self-education as a theory providing sufficiently developed and socially applicable model of andragogical action. Prospects of the adult education theory are combined with the need to define and understand the basic terms (education and self-education of adults), their relations in the system of science, explanation of subject and functions (normative and practical, through the development of basic and applied research and creation of the curriculum components (objectives, principles, contents, education process and others).
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Wang, Yingchao, Ning Zhao, Hongwen Jing, Bo Meng, and Xin Yin. "A Novel Model of the Ideal Point Method Coupled with Objective and Subjective Weighting Method for Evaluation of Surrounding Rock Stability." Mathematical Problems in Engineering 2016 (2016): 1–9. http://dx.doi.org/10.1155/2016/8935156.

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The classification of surrounding rock stability is the critical problem in tunneling engineering. In order to decrease engineering disasters, the surrounding rock stability should be accurately evaluated. The ideal point method is applied to the classification of surrounding rock stability. Considering the complexity of surrounding rock classification, some factors such as rock uniaxial compressive strengthen, integrality coefficient of rock mass, the angle between tunnel axis and the main joint, joints condition, and seepage measurement of groundwater are selected as evaluation indices. The weight coefficients of these evaluation indices are determined by the objective and subjective weighting method, consisting with the delphi method and the information entropy theory. The objective and subjective weighting method is exact and reliable to determine the weights of evaluation indices, considering not only the expert’s experiences, but also objectivity of the field test data. A new composite model is established for evaluating the surrounding rock stability based on the ideal point method and the objective and subjective weighting method. The present model is applied to Beigu mountain tunnel in Jiangsu province, China. The result is in good agreement with practical situation of surrounding rock, which proves that the ideal point method used to classify the surrounding rock in tunnels is reasonable and effective. The present model is simple and has very strong operability, which possesses a good prospect of engineering application.
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Alforova, Zoya, Oksana Lahoda, Vladyslava Hurdina, Liudmyla Lytvyniuk, and Rostyslav Kupchyk. "Analysis of modern approaches to the application of 3D technologies in architecture and design." Revista Amazonia Investiga 11, no. 52 (May 29, 2022): 105–14. http://dx.doi.org/10.34069/ai/2022.52.04.11.

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Relevance. The dynamic development of modern architecture and design implies continuous improvement of processes aimed at optimizing not only the design, but also the construction of various objects directly. Today, the most effective method of this optimization is the active use of advanced 3D technologies that allow you to bring visual, structural, engineering and technical solutions to a qualitatively new level. The purpose of the article is to analyze modern approaches to the application of 3D technologies in architecture and design. The objectives of the article are to analyze key trends, study the disadvantages and advantages of selected 3D printing technologies, as well as identify areas with high potential for implementing various types of architectural objects created on new-generation three-dimensional printers. Research methods include generalization, classification, systematization and analysis of the theory of formation of new architectural trends..Results. The article discusses various technologies and technical means, their advantages and disadvantages, as well as analyzes the key areas of application of 3D printers in the implementation of various architectural structures. Prospects for the development of highly efficient technology for the construction of buildings and structures are determined. The principles of operation of 3D printers are described. Conclusions. Three-dimensional printing technologies are used in global architectural practice for various functions of buildings, from public housing to restoration work, for modern and future architectural needs. Analysis of the international practice of creating architectural objects using 3D printers leads to the following conclusions: the technology of manufacturing buildings and structures has critical advantages, but also certain disadvantages. The prospects for further research are to conduct an empirical analysis of the use of 3D technologies in architecture and design.
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Tarasov, I. E., D. S. Potekhin, and O. V. Platonova. "Prospects for using soft processors in systems-on-a-chip based on field-programmable gate arrays." Russian Technological Journal 10, no. 3 (June 8, 2022): 24–33. http://dx.doi.org/10.32362/2500-316x-2022-10-3-24-33.

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Objectives. Developing the element base of field-programmable gate arrays (FPGA) may significantly affect the design of electronic devices due to the enhanced logical capacity of such chips and the general tendency towards increased subsystem integration. The system-on-a-chip (SoC) concept is aimed at combining receiving, processing, and exchange subsystems onto a single chip, as well as at implementing control, diagnostic, and other auxiliary subsystems. The study aimed at developing a method for soft processor applications, i.e., processors based on configurable logical resources, for implementing control functions in an FPGA-based SoC.Methods. A digital system design methodology was used.Results. For soft processors, a unified design route based on selecting architectural parameters qualitatively corresponding to control tasks was considered. In particular, such parameters as instruction set addressness, number of pipeline cycles, and arithmetic logic unit configuration are adjustable at the design stage to allow the optimization of the soft processor in the discrete parameter space. An approach to rapid prototyping of the assembler based on stack-oriented programming language with regular grammar was also considered. The control of digital signal processing hardware as part of an SoC is the promising application area for soft processors. An implementation is considered on the example of an SoC based on Xilinx Virtex-7 FPGA containing several processor cores developed using the proposed methodology.Conclusions. The considered approaches to soft processor design allow the rapid prototyping of the control processor core for operation as part of an FPGA-based SoC.
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Moiseeva, Anna Yu. "J. Hintikka’s Interrogative Model of Inquiry and Prospects for Its Application in the Study of Artificial Intelligence." Russian Journal of Philosophical Sciences 64, no. 7 (July 15, 2021): 46–67. http://dx.doi.org/10.30727/0235-1188-2021-64-7-46-67.

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The article outlines the prospects of using J. Hintikka’s interrogative epistemology for modelling cognitive operations carried out by a cognizing agent to create a machine capable of full cognition. It was established that modeling is divided into two objectives: modeling the cognitive operations and modeling the strategic reasoning. Interrogative epistemology presents a solution to the first objective. It relies on a game-theoretic formal apparatus that allows one to correctly describe all types of possible moves within the framework of a particular cognitive game. The second objective cannot be accomplished in a general epistemological theory framework since strategic considerations about the organization of research and even the concept of knowledge inevitably depend on the broader context of an agent’s practical activity. Therefore, interrogative epistemology does not claim a universal and complete description of the process of cognition, focusing on other tasks: primarily on identifying hidden premises that cognitive agents use in their reasoning. For the same reason, interrogative epistemology deems the possibility of the existence of a cognizing machine as formally unsubstantiated and questionable. However, arguments are given in favor of the fact that interrogative epistemology serves as an acceptable conceptual framework for clarifying the nature of the difficulties that arise with attempts to accomplish the second objective and improving the quality of philosophical discourse in the field of artificial intelligence research. The author substantiates this position by arguing that the ability to cognize presupposes the ability to perform all the essential functions that are usually called mental.
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Kim, Gyuhyun, and Ihnsup Han. "Applications and Prospects of Fourth Industrial Revolution Technology in Environmental Areas - Focusing on Environmental Policy based Public Technology Development Projects -." Journal of Korean Society of Environmental Engineers 44, no. 11 (November 30, 2022): 515–24. http://dx.doi.org/10.4491/ksee.2022.44.11.515.

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Objectives : Recently, the Fourth Industrial Revolution has been actively discussed in all fields around the world. And the related R&D(Research and Development) has been widely conducted in the environmental field. The core of the Fourth Industrial Revolution is hyperconnectivity, superintelligence, and convergence. Major technologies related with it are AI(Artificial Intelligence), IoT(Internet of Things), 5G(Fifth Generation communication technology), robots, blockchain, drones, 3D(Three Dimension) printers, big data, unmanned transportation, biotechnology, new materials, sharing economy, and VR/AR(Virtual Reality/Augmented Reality), etc. It is intended to seek development plans through the examples of the 4th industrial revolution technology’s environmental application.Methods : In concentration of the public technology development project, based on environmental policy, conducted from 2011 to 2020, some cases of the 4th industrial revolution technology’s environmental application have been analyzed and the future prospects have been derived.Results and Discussion : The 4th Industrial Revolution technology has been applied in various fields such as design, operation, maintenance, investigation, monitoring, and service provision in the environmental field. Therefore, in the future, it is expected that there will be working environment improvement, the progress of service quality and operational efficiency.Conclusion : With the transition to smart environmental technology, it is expected that it will be possible to advance the industry and create high value-added things. To do so, government policy support and technology development should be continuously executed.
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Pravdiuk, Nataliia, Vitalii Pokynchereda, and Maryna Pravdiuk. "THE HUMAN CAPITAL OF AN ENTERPRISE: THEORY AND ASSESSMENT METHODOLOGY." Baltic Journal of Economic Studies 5, no. 2 (May 13, 2019): 176. http://dx.doi.org/10.30525/2256-0742/2019-5-2-176-183.

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At the present stage of social development, there is a transformation of the persistent views on the place and human role in the economic system. Human capital assets as a set of productive abilities, personal traits, and employee motivation developed as a result of investment become a key factor in the production process, without which any prospects of economic growth are neutralized. The purpose of the article is to provide a theoretical substantiation and systematization of existing methods for assessing human capital, to identify the advantages and disadvantages of their practical application in the enterprise activity, and to develop recommendations aimed at improving the human capital assessment methodology in order to further reflect information on the cost of human capital assets in accounting and reporting of enterprises Methodology. The methodological basis of the study is the historical and logical method used in the study of the economic essence of human capital assets and the evolution of human capital assessment methodology. Dialectical method and comparative analysis have been used to determine the differences between existing human capital assessment methods and to identify positive and negative aspects of their practical application. The methods of scientific abstraction, induction and deduction, analysis and synthesis have been used in developing the methodology for assessing human capital assets and justifying the opportunities for its integration into the accounting and reporting system of the enterprise. Results. It has been established that in international practice, there is a cost-based, profitable, and expert methodology for assessing human capital assets. Based on the analysis of positive and negative aspects of the application of these methods, it is substantiated that from the standpoint of accounting the most cost-based model of human capital assets is the most optimal since it is based on the principle of actual cost peculiar to accounting practice. Taking this into consideration, a cost-based methodology for assessing human capital assets of the enterprise has been suggested, according to which the cost of human capital assets is calculated by capitalizing the costs borne by the employee and the enterprise at all stages of the formation and development of human capital assets, namely, the costs of developing the employee’s physical abilities (the cost of developing his/her physical abilities), the cost of training (tuition fee in educational institutions), the cost of obtaining professional experience (the cost of professional experience), and the costs of its professional training (the cost of vocational training in the process of his/her employment). Practical meaning. The introduction of the suggested methodology for assessing human capital assets creates the prerequisites for the subsequent display of information in business accounting and reporting, which in its turn increases the level of informativity of accounting data, promoting to meet the growing needs of external and internal users of information, provides an opportunity to consider the value of human capital in determining the market value of the company. Besides, the suggested assessment methodology enables to produce information about the cost of human capital assets of the enterprise, which is the basis for determining the effectiveness of its use. Value/originality. The suggested methodology for assessing human capital assets creates prerequisites for its implementation in the accounting system of the enterprise, which will create the basis for displaying information about the cost of human capital assets in the enterprise’s reporting, which corresponds to the objectives of value-oriented enterprise management.
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Bogatyrev, S. Yu. "Prospect theory: The framework and application areas." Finance and Credit 25, no. 4 (April 26, 2019): 755–68. http://dx.doi.org/10.24891/fc.25.4.755.

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Makrusev, V. V., and A. A. Sobol'. "A cognitive approach to improving the quality of the customs authorities' analytic activities." Economic Analysis: Theory and Practice 19, no. 3 (March 30, 2020): 416–29. http://dx.doi.org/10.24891/ea.19.3.416.

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Subject. The article considers prospects for enhancing the quality of analytical activities of the Customs authorities through a cognitive approach implementation. Objectives. The aim is to formulate promising areas for improving the quality of analytical work of the Customs authorities by using a cognitive approach, to develop a concept for managing the analytical activities based on knowledge. Methods. The study rests on systems methodology and institutional theory. It also employs cognitive modeling techniques. Results. We show the process of transferring disparate data into knowledge, consider basic methods of big data processing, and identify the most acceptable method of customs data analysis. The paper discloses the contents and elements of the cognitive approach in analytical activities of on-line monitoring centers and describes an experiment with the application of data mining technology on the basis of the Federal Customs Service of Russia. We recommend the said approach to analytical and ICT units of organizations operating in the field of customs services. Conclusions. Current trends in software development, the use of electronic forms of customs documents, and continuously expanded list of analytical tools for big data processing entail the need for changing traditional approaches to information analysis to assess customs risks. The expert method should be supplemented with new, previously unused decision support tools, such as tools that enable automated big data analysis.
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Feeny, David, and Ken Eng. "A test of prospect theory." International Journal of Technology Assessment in Health Care 21, no. 4 (October 2005): 511–16. http://dx.doi.org/10.1017/s0266462305050713.

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Objectives: Prospect theory (PT) hypothesizes that people judge states relative to a reference point, usually assumed to be their current health. States better than the reference point are valued on a concave portion of the utility function; worse states are valued on a convex portion. Using prospectively collected utility scores, the objective is to test empirically implications of PT.Methods: Osteoarthritis (OA) patients undergoing total hip arthroplasty periodically provided standard gamble scores for three OA hypothetical states describing mild, moderate, and severe OA as well as their subjectively defined current state (SDCS). Our hypothesis was that most patients improved between the pre- and postsurgery assessments. According to PT, scores for hypothetical states previously > SDCS but now < SDCS should be lower at the postsurgery assessment.Results: Fourteen patients met the criteria for testing the hypothesis. Predictions were confirmed for 0 patients; there was no change or mixed results for 6 patients (42.9 percent); and scores moved in the direction opposite to that predicted by PT for 8 patients (57.1 percent).Conclusions: In general, the direction and magnitude of the changes in hypothetical-state scores do not conform to the predictions of PT.
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Goda, K., and H. P. Hong. "Application of cumulative prospect theory: Implied seismic design preference." Structural Safety 30, no. 6 (November 2008): 506–16. http://dx.doi.org/10.1016/j.strusafe.2007.09.007.

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Lee, Min Chul, and Jaehyun Park. "Compensating Qualitative Rating Distortion of User Experience Evaluation Based on Prospect Theory." Sustainability 11, no. 23 (December 1, 2019): 6815. http://dx.doi.org/10.3390/su11236815.

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Psychophysical assessment may be affected by cognitive distortion. Although the theory was originally developed to revise decision making in uncertain situations, prospect theory can be applied to psychophysical measurements, which was verified in a previous preliminary study. Two case studies were used to validate the utilization of prospect theory in psychophysical measurements. Affective satisfaction dimensions were rated by participants for an experimental device using a 0–100 scale. Performance of affective satisfaction models increased with the application of prospect theory-based compensation. Hundreds of participants evaluated the user value of their own devices via an online questionnaire. Although model fit performance increased slightly with transformed data, more case studies are needed to investigate the utility of prospect theory on user value or on a range of target constructs. The application of prospect theory in various situations of psychophysical measurement can be expected to improve and compensate for measurement results.
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Manko, S. V., V. M. Lokhin, and D. A. K. Sekou. "Prototype multi-agent robotic debris removal system: principles of development and experimental studies." Russian Technological Journal 10, no. 6 (December 1, 2022): 28–41. http://dx.doi.org/10.32362/2500-316x-2022-10-6-28-41.

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Objectives. The article substantiates the relevance of the creation and the prospects of application of multi-agent robotic systems for elimination of consequences of emergency situations. The purpose of this work was to test the practical feasibility of algorithms for controlling a group of autonomous robots when performing multi-stage missions.Methods. The theses of the finite automata theory in planning actions of a multi-agent system, methods of automatic control in organizing a goal-directed movement of robots, and methods of computer vision in searching and analyzing debris geometry were used.Results. The principles of development, architecture, and composition are described for the software and algorithms of a prototype of the multi-agent robotic system created at RTU MIREA as part of integrated research for the creation of tools and methods of group control of robots. The multi-stage task of searching and removing debris in the process of eliminating the consequences of emergency situations is analyzed. A proposed algorithm for planning the actions of robotic agents determines the time sequence of the mission stages. Tasks are allocated among the performing robots according to assessments of their suitability. The autonomous functioning of robotic agents is determined by commands coming from the group control level, as well as an a priori embedded knowledge base with scenario models of appropriate actions. Compensation of local environmental uncertainties in the process of robot movement is based on a comprehensive analysis of visual and navigation information. Along with the main elements of the multi-agent system, the developed infrastructure of hardware and software for visual navigation and wireless communication is described.Conclusions. The results of the experimental studies demonstrated the efficiency of the developed approaches to the creation of intelligent technologies for group control of autonomous robots on the example of debris search and removal tasks. The feasibility of the multi-agent robotic system is demonstrated by the development and integration of a number of information management and infrastructure subsystems.
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付, 小文. "Theory and Application: Research Review and Prospect of Accurate Marketing." Modern Marketing 07, no. 03 (2017): 71–75. http://dx.doi.org/10.12677/mom.2017.73009.

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Attema, Arthur E., Lisheng He, Alasdair J. C. Cook, and Victor J. Del Rio Vilas. "Unbiased assessment of disease surveillance utilities: A prospect theory application." PLOS Neglected Tropical Diseases 13, no. 5 (May 1, 2019): e0007364. http://dx.doi.org/10.1371/journal.pntd.0007364.

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Alam, Nafis, and Kin Boon Tang. "Risk‐taking behaviour of Islamic banks: application of prospect theory." Qualitative Research in Financial Markets 4, no. 2/3 (August 3, 2012): 156–64. http://dx.doi.org/10.1108/17554171211252493.

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Liu, Ang, Thorsten Wuest, Wei Wei, and Stephen Lu. "Application of Prospect Theory on Car Sharing Product Service System." Procedia CIRP 16 (2014): 350–55. http://dx.doi.org/10.1016/j.procir.2014.02.022.

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Harrington, Nancy Grant, and Anna M. Kerr. "Rethinking Risk: Prospect Theory Application in Health Message Framing Research." Health Communication 32, no. 2 (May 13, 2016): 131–41. http://dx.doi.org/10.1080/10410236.2015.1110004.

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Louhichi, Rim, Jacques Pelletan, and Mohamed Sallak. "Application of Prospect Theory in the Context of Predictive Maintenance Optimization Based on Risk Assessment." Applied Sciences 12, no. 22 (November 18, 2022): 11748. http://dx.doi.org/10.3390/app122211748.

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The optimization of predictive maintenance relies mainly on the reduction of costs and risks, which can be of various types. The evaluation of risks cannot be realized independently of the psychology state and cognitive knowledge of the decision maker. In this article, we demonstrate this through the proposal of a methodology that tackles both optimization of maintenance and estimation of failure risks at the same time. The methodology takes as input the remaining useful life of the system at instant t and determines the optimal inspection step and the threshold of remaining useful life for predictive maintenance. The originality of the methodology consists of using a theory inspired by behavioral economics called prospect theory. Prospect theory allows modeling the outcome of a decision making by considering several aspects related to the decision maker, mainly loss aversion and a tendency to overestimate events with low probability of occurrence but with high economic losses. A case study was then developed where both cases were considered: with prospect theory and without prospect theory. A sensitivity analysis of the results under variation of some input parameters was carried out in a final step to confirm the consistency of the results and show the interest of prospect theory.
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28

Mohapi, PL. "Does prospect theory warrant a paradigm shift in the economics of risk?" South African Journal of Economic and Management Sciences 9, no. 2 (July 10, 2014): 230–43. http://dx.doi.org/10.4102/sajems.v9i2.1149.

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This paper assesses whether a paradigm shift should be made from expected utility framework to prospect theory framework – in the economics of choice under risk. A brief overview of the subject is outlined, starting with expected utility theory and noting its descriptive limitations. Proposed theories to make up for these limitations is also provided. Prospect theory emerged as the most serious challenger to expected utility theory. A review of some descriptive predictions of prospect theory, suggests that there is no scientific reason why expected utility should not be ousted from dominance by prospect theory. The shift to prospect theory however is not without costs. Conceptual complexities and non-universality of application associated with prospect theory should be embraced with the shift while not entirely abandoning expected utility theory.
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29

D'Aveni, Richard A. "Dependability and Organizational Bankruptcy: An Application of Agency and Prospect Theory." Management Science 35, no. 9 (September 1989): 1120–38. http://dx.doi.org/10.1287/mnsc.35.9.1120.

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30

Pandey, Shivendra Kumar. "A prospect theory application to understand tourism in terror infested destinations." International Journal of Knowledge Management in Tourism and Hospitality 2, no. 1 (2018): 87. http://dx.doi.org/10.1504/ijkmth.2018.099257.

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31

PANDEY, SHIVENDRA. "A Prospect Theory Application to understand Tourism in Terror Infested Destinations." International Journal of Knowledge Management in Tourism and Hospitality 2, no. 1 (2018): 1. http://dx.doi.org/10.1504/ijkmth.2018.10019539.

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32

Ke, Gao, Sun Youhong, Gao Runfeng, Xu Liang, Wang Chuanliu, and Li Yumin. "Application and prospect of bionic non-smooth theory in drilling engineering." Petroleum Exploration and Development 36, no. 4 (August 2009): 519–41. http://dx.doi.org/10.1016/s1876-3804(09)60143-9.

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33

Montgomery, James. "Supervisory Styles, Stress, and Decision Making: An Application of Prospect Theory." Journal of Accounting, Business and Management (JABM) 29, no. 2 (November 27, 2022): 54. http://dx.doi.org/10.31966/jabminternational.v29i2.614.

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Abstract The purpose of our paper was to investigate the influence of supervisory styles on the manager's perceived stress and decision making. Supervisory styles are a combination of the leadership dimensions, consideration and initiation structure behaviors, and performance measurements, objective and subjective. We used a within-subjects experimental structure to determine the relative effects of perceived stress while making a decision under each supervisory style as well as relative risk-taking under each supervisory style. We found that managers whose supervisors use considerate leadership styles make riskier decisions than managers whose supervisors use initiates structure leadership styles. Furthermore, managers whose organizations use objective performance measures will report more stress than managers whose organizations use subjective measures. The initiates structure with objective performance measures supervisory style induced more perceived stress and resulted in lower risk-taking by the subjects than the other supervisory style combinations. Our research provides evidence that combinations of team-level leadership and organization level performance measures combine to produce unintended outcomes from the firm's managers.
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34

Chung, Hui-Kuan, Paul Glimcher, and Agnieszka Tymula. "An Experimental Comparison of Risky and Riskless Choice—Limitations of Prospect Theory and Expected Utility Theory." American Economic Journal: Microeconomics 11, no. 3 (August 1, 2019): 34–67. http://dx.doi.org/10.1257/mic.20170112.

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Prospect theory, used descriptively for decisions under both risk and certainty, presumes concave utility over gains and convex utility over losses; a pattern widely seen in lottery tasks. Although such discontinuous gain-loss reference-dependence is also used to model riskless choices, only limited empirical evidence supports this use. In incentive-compatible experiments, we find that gain-loss reflection effects are not observed under riskless choice as predicted by prospect theory, even while in the same subjects gain-loss reflection effects are observed under risk. Our empirical results challenge the application of choice models across both risky and riskless domains. (JEL C91, D12, D81)
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Zheng, You Yi, Ji Lai Rao, and Lei Wu. "Design Theory of Profile Connection and Overview of Manufacturing Technology." Applied Mechanics and Materials 34-35 (October 2010): 1730–34. http://dx.doi.org/10.4028/www.scientific.net/amm.34-35.1730.

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This paper mainly introduces the concepts and brief development history of profile connection, brief discusses its design theory and manufacturing techniques and finally some application prospect are put forward.
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36

Wang, Lei, Qing Liu, and Tongle Yin. "Decision-making of investment in navigation safety improving schemes with application of cumulative prospect theory." Proceedings of the Institution of Mechanical Engineers, Part O: Journal of Risk and Reliability 232, no. 6 (February 28, 2018): 710–24. http://dx.doi.org/10.1177/1748006x18757085.

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Navigation safety improving investment aims at mitigating risk and improving safety of shipping system, while decision-makers’ attitudes toward the uncertainty of shipping safety possess a characteristic of “bounded rationality.” To study the tendency of shipping safety investment decision-making with different risk perception and appetite, a decision-making method based on cumulative prospect theory is proposed in this article. First, we extract the decision attributes through analyzing the factors affecting shipping safety investment. Then, according to cumulative prospect theory, the value function and the probability weighting function for calculating cumulative prospect values of shipping investment attributes are given. Under the risk-based multi-attribute group decision-making framework, linear programming model and projection method are introduced to aggregate the weights of attributes and decision-makers, respectively. Furthermore, through a case study, the proposed methodology is utilized in Three Gorges Dam area, and the desirable safety investment scheme is determined from a set of candidate alternatives. The case study shows not only validity and feasibility of the decision-making approach but also the mechanism of shipping safety investment decision-making with consideration of the behavior characteristics of decision-makers such as reference dependence, risk appetite distortion, and loss aversion.
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Jia, Fan, and Xingyuan Wang. "Rough-Number-Based Multiple-Criteria Group Decision-Making Method by Combining the BWM and Prospect Theory." Mathematical Problems in Engineering 2020 (February 21, 2020): 1–16. http://dx.doi.org/10.1155/2020/8738327.

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Multicriteria group decision-making (MCGDM) problems have been a research hotspot in recent years, and prospect theory is introduced to cope with the risk and imprecision in the process of decision-making. To guarantee the effectiveness of information aggregation and extend the feasibility of prospect theory, this paper proposes a novel decision-making approach based on rough numbers and prospect theory to solve risky and uncertain MCGDM problems. Firstly by combining rough numbers and the best-worst method (BWM), we construct a linear programming model to calculate rough criteria weights, which are defined by lower limitations and upper limitations. Then for the imprecision of value function and weighting function in prospect theory, we propose a novel method with the aid of combining rough numbers and prospect theory to handle the risk in decision-making problems. Finally, a numerical example involving investment is introduced to illustrate the application and validity of the proposed method.
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Wilton, Edgar, Erik Delarue, William D’haeseleer, and Wilfried van Sark. "Reconsidering the capacity credit of wind power: Application of cumulative prospect theory." Renewable Energy 68 (August 2014): 752–60. http://dx.doi.org/10.1016/j.renene.2014.02.051.

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39

Jou, Rong-Chang, and Ke-Hong Chen. "An application of cumulative prospect theory to freeway drivers’ route choice behaviours." Transportation Research Part A: Policy and Practice 49 (March 2013): 123–31. http://dx.doi.org/10.1016/j.tra.2013.01.011.

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40

Klein, Martin, and Marc Deissenroth. "When do households invest in solar photovoltaics? An application of prospect theory." Energy Policy 109 (October 2017): 270–78. http://dx.doi.org/10.1016/j.enpol.2017.06.067.

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41

Singh, Punya, and Colin G. Ellard. "Functional analysis of concealment: A novel application of prospect and refuge theory." Behavioural Processes 91, no. 1 (September 2012): 22–25. http://dx.doi.org/10.1016/j.beproc.2012.05.003.

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42

Xing, Huahua, Lei Song, and Zongxiao Yang. "An Evidential Prospect Theory Framework in Hesitant Fuzzy Multiple-Criteria Decision-Making." Symmetry 11, no. 12 (December 2, 2019): 1467. http://dx.doi.org/10.3390/sym11121467.

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In numerous real decision-making problems, decision-makers (DMs) encounter situations involving hesitant and probabilistic information simultaneously, and DMs show behavior characteristics of nonrational preferences when they encounter decision-making situations with uncertain information. To address such multiple-criteria decision-making (MCDM) issues with hesitant and probabilistic information and nonrational preferences, a novel method, called the evidential prospect theory framework, is developed herein based on evidence theory and prospect theory, where the associated coefficients in prospect theory are given on the basis of symmetry principles (i.e., the associated coefficients are common knowledge to DMs). Within the proposed method, belief structures derived from evidence theory apply to the experts’ uncertainty about the subjective assessment of criteria for different alternatives. Then, by combining belief structures, the weighted average method is applied to estimate the final aggregated weighting factors of different alternatives. Furthermore, considering the nonrational preferences of DMs, the expected prospect values of different alternatives are derived from the final aggregated weighting factors and prospect theory, which is applied to the ranking order of all alternatives. Finally, a case involving a parabolic trough concentrating solar power plant (PTCSPP) is shown to illustrate the application of the novel method proposed in this paper. The evidential prospect theory framework proposed in this paper is effective and practicable, and can be applied to (green) supplier evaluation.
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43

Lytovchenko, Olena, and Tatyana Kuzenko. "THE METHOD OF ANALYSIS OF HIERARCHIES AS A TOOL FOR ANTICRISIS FINANCIAL MANAGEMENT OF AN ENTERPRISE." Economic Analysis, no. 31(4) (2021): 46–54. http://dx.doi.org/10.35774/econa2021.04.046.

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Introduction. Elaboration of anti-crisis measures is an extremely difficult task for any decision-maker due to the need to take into account numerous criteria and establish their priority. The complexity of the tasks to be solved requires a deep understanding of the causes and nature of the crisis, their types, nature of action, consequences and ways to overcome, awareness of prospects for enterprise development provided the adoption of an alternative within crisis management. Based on this, the process of formation of anti-crisis measures appears as a multi-criteria task of decision-making, for which, along with traditional methods, other tools of a systematic approach are used to solve poorly structured and unstructured problems. Goal. The purpose of the study is to substantiate the tools of multi-criteria analysis in crisis management. Based on the purpose, the objectives of the study are to reveal the nature, features and procedure for applying the method of analysis of hierarchies to choose an anti-crisis strategy of the enterprise. Methods (methodology). The main scientific methods used in the research process: a systematic approach, elements of the theory of logic, methods of theoretical generalization, abstract-logical method, synthesis and analysis, methods of comparison. Results. The essential characteristics, the main tasks of the method of analysis of hierarchies are revealed, its scientific substantiation on use as the tool of anti-crisis financial management of the enterprise is carried out. The advantages and disadvantages of the method, the connection with various scientific theories and directions are established. It is determined that the application of the method of hierarchy analysis in anti-crisis financial management provides the decision-maker with opportunities to successfully resolve procedural issues in the process of crisis analysis and the formation of anti-crisis measures. The stages of carrying out the method of analysis of hierarchies and the advantages of its practical implementation for the purposes of anti-crisis financial management of the enterprise are revealed.
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44

Kotenko, M. V. "Methodological basis of scientific research of intellectual property as a value-legal phenomenon." INTERPRETATION OF LAW: FROM THE THEORY TO THE PRACTICE, no. 12 (2021): 165–70. http://dx.doi.org/10.33663/2524-017x-2021-12-27.

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The relevance of scientific knowledge of value and legal aspects of understanding intellectual property is revealed in the work. The philosophical and scientific basis of scientific research of value-legal aspects of understanding intellectual property is established. The scientific views of scientists concerning the understanding of the methodological basis of scientific research of state and legal phenomena and processes are generalized, the prospects of its application to the knowledge of value and legal aspects of intellectual property are determined, and possible scientific results can be obtained. It is concluded that the current state of scientific development of the problems of axiology of understanding intellectual property. Having identified and established the functional aspects of the methodological basis of knowledge of value and legal aspects of intellectual property, it is noted that the use of broad tools of modern methodology of knowledge of state legal phenomena and processes has a positive value only if the methodological strategy of scientific research as a whole. the prism of a specific approach to its perception and understanding. Otherwise, the scientific research itself will turn into an artificial application of methodological tools, the result of which will be a wide range of multi-vector, inconsistent information about the subject of research. Therefore, it is important to determine the methodological strategy of the study, which will be based on a specific methodological approach (approaches), which will generalize the understanding of the subject of research, which will be taken as a basis: first, determine its cognitive potential; secondly, the definition of methodological tools of the study; third, the study of those aspects that are insufficiently disclosed in legal science; fourth, the formation of a conceptual idea of the subject of research based on the results of its scientific knowledge. The author proves that it is most expedient to apply the «pluralistic approach» to the formation of the methodology of scientific research of value-legal aspects of intellectual property, which includes: 1) establishing the functional capabilities of generally accepted in the system of social sciences, legal sciences and legal theory methodological tools value-legal research of intellectual property, determination of cognitive perspective of its application; 2) determination of the advantages of a specific methodological approach to the value-legal study of intellectual property, which will determine the general cognitive strategy of this scientific work, which we will emphasize separately in the next section of the dissertation. This approach, in our opinion, will combine the general doctrinal vision of the problem of value and legal dimension of intellectual property, determine its purpose, set research objectives, as well as to clarify the specific instrumental mechanisms for achieving it. Keywords: intellectual property, legal value of intellectual property, methodological basis, axiological methodological approach, axiological aspects of understanding intellectual property.
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Ryan, Brendan M. "Kahenman and Tversky’s Research on Heuristics and Its Application to Junior Athletic Development and the College Recruiting Process." Higher Education Studies 7, no. 2 (April 5, 2017): 23. http://dx.doi.org/10.5539/hes.v7n2p23.

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This paper will apply the work of Amos Tversky and Daniel Kahneman in Prospect theory to the college recruiting process. Prospect theory challenges one of the fundamental ideas of Economics; humans are rational creatures and make rational decisions. The theory demonstrates that in fact, often humans do not make rational decisions and are instead subject to “heuristics”. Heuristics are mental shortcuts individual use to solve problems. The paper will both explain heuristics, as well as demonstrate how coaches, administrators, and junior athletes should be aware of the role of heuristics in both long-termdevelopments, as well as the college recruitment process.
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46

Duan, Yin, Xing Hong Liu, and Xiao Lin Chang. "Theory of Temperature Dynamic Control in Arch Dams and its Application." Advanced Materials Research 594-597 (November 2012): 738–41. http://dx.doi.org/10.4028/www.scientific.net/amr.594-597.738.

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Main factors of the temperature control and crack prevention in arch dams are summarized. The Space-time Dynamic Control method in pipe cooling process and the Temperature Real-time Control and Decision Database System are introduced to help for temperature real-time control and rapid analysis. Successful application of these new techniques in the construction of Dagangshan arch dam indicates that the proposed method are of significant effectiveness on the temperature control and crack prevention, and have good application prospect in practical project.
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47

Plott, Charles R., and Kathryn Zeiler. "Exchange Asymmetries Incorrectly Interpreted as Evidence of Endowment Effect Theory and Prospect Theory?" American Economic Review 97, no. 4 (August 1, 2007): 1449–66. http://dx.doi.org/10.1257/aer.97.4.1449.

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Systematic asymmetries in exchange behavior have been widely interpreted as support for “endowment effect theory,” an application of prospect theory positing that loss aversion and utility function kinks set by entitlements explain observed asymmetries. We experimentally test an alternative explanation, namely, that asymmetries are explained by classical preference theories finding influence through the experimental procedures typically used. Contrary to the predictions of endowment effect theory, we observe no asymmetries when we modify procedures to remove the influence of classical preference theories. When we return to traditional-type procedures, however, the asymmetries reappear. The results support explanations based in classical preference theories and reject endowment effect theory. (JEL D01)
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48

Pavlović, Dušan. "Prospect theory and presidential elections: Two cases from Yugoslavia and Serbia." Communist and Post-Communist Studies 52, no. 1 (January 18, 2019): 11–24. http://dx.doi.org/10.1016/j.postcomstud.2019.01.002.

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Why do presidents in semi-presidential regimes sometimes call early elections? Is the behavior of incumbent presidents different from the behavior of presidential contenders when the former do not need to run for office but face the loss of parliamentary majority in a semi-presidential system? Prospect theory claims that agents make risky choices when facing a loss. Consequently, if incumbent presidents face a loss of majority in the parliament, they will call for early election to try to shore up or salvage the majority. To provide empirical evidence supporting this claim, prospect theory has been applied to the two presidential elections in Yugoslavia and Serbia in which two incumbent presidents, Slobodan Miloševiš (2000) and Boris Tadiš (2012), had lost early presidential elections. The expected contribution of the paper is to deepen our understanding of how semipresidential regimes resolve the problem of temporal rigidity and offer novel empirical data in support of the application of prospect theory in political science.
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Liu, Yu, Shuang Li, JunRu Guo, GuoLiang Chai, and ChunMei Cao. "The Application of Virtual Reality Technology in Sports Psychology: Theory, Practice, and Prospect." Computational Intelligence and Neuroscience 2022 (August 11, 2022): 1–11. http://dx.doi.org/10.1155/2022/5941395.

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Once virtual reality technology (Virtual Reality, VR) came out, it has received a lot of attention; in recent years, it has been widely used in the study of psychology. Because it can improve the ecological validity of experimental research, the level of conditional control, reproducibility, and avoid the dangers of field operations, it has been introduced into the field of psychology by many researchers. Compared with traditional sports psychology research methods, virtual reality technology has the characteristics of multiperception, immersion, interaction, and imagination to get a better, more realistic feel and increase people's interest in sports. Taking the application of virtual reality technology in table tennis teaching in colleges and universities as an example, this study aims to review the application of virtual reality technology in sports psychology; summarize the theory, practice, and prospect of the application of virtual reality technology in sports psychology; and add new content to the research of sports psychology. It aims to review the principles, characteristics, and application of virtual reality technology in sports psychology; summarize the advantages and disadvantages of the application of virtual reality technology in sports and point out the problems that need to be paid attention to when using this method; explore the application of virtual reality technology in sports psychology; and add new content to the research of sports psychology.
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50

Latimer, Amy E., Tara A. Rench, Susan E. Rivers, Nicole A. Katulak, Stephanie A. Materese, Lisa Cadmus, Althea Hicks, Julie Keany Hodorowski, and Peter Salovey. "Promoting participation in physical activity using framed messages: An application of prospect theory." British Journal of Health Psychology 13, no. 4 (November 2008): 659–81. http://dx.doi.org/10.1348/135910707x246186.

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