Home
About
Author Info
- Larry Ribstein: In Memoriam (1946-2011)
Policies
Disclosures
Email
Symposia

Truth on the Market

Scholarly commentary on law, economics, and more

Home/
Truth on the Market/
The Influence of Prospect Theory

The Influence of Prospect Theory

Josh Wright — 15 November 2011

Share this:

Twitter
Facebook
LinkedIn
Reddit
Email
Print

Like this:

Like Loading...

Related

In Truth on the Market behavioral economics

permalink

Previous
Next

Search TOTM

Sort by

A Top 100 Economics Blog

Economics Blogs 2020

Recent Posts

Privacy and Security Risks of Interoperability and Sideloading Mandates 26 January 2022
App Stores as Public Utilities? 19 January 2022
10 Things the American Innovation and Choice Online Act Gets Wrong 18 January 2022
10 Years After SOPA/PIPA, Congress Still Needs to Address Online Piracy 18 January 2022
Intermediaries: The Hero We Need? 12 January 2022
Amazon Italy’s Efficiency Offense 11 January 2022
Crusade Against ‘Big Meat’ Is Latest Example of Misguided Effort to Use Antitrust as Anti-Inflation Tool 5 January 2022

Authors

Alden Abbott
Ben Sperry
Dirk Auer
Eric Fruits
Geoffrey Manne
Gus Hurwitz
Joanna Shepherd
Jonathan Barnett
Julian Morris
Kristian Stout
Mike Sykuta
Thom Lambert

Posts by Author

Alden Abbott
Ben Sperry
Dirk Auer
Eric Fruits
Fruits & Manne
Geoffrey Manne
Gus Hurwitz
Joanna Shepherd
Jonathan Barnett
Julian Morris
Kristian Stout
Manne & Auer
Manne & Sperry
Manne & Stapp
Manne & Stout
Manne & Turkewitz
Manne & Wright
Mike Sykuta
Stannewitz (Hurwitz, Manne & Stout)
Stout & Stapp
Thom Lambert

Bloggers Emeriti

Adam Mossoff
Alec Stapp
Allen Gibby
Bill Sjostrom (Founder Emeritus)
Elizabeth Nowicki
Eric Helland
J.W. Verret
Josh Wright
Keith Sharfman
Larry Ribstein
Neil Turkewitz
Paul Rubin
Todd Henderson

Posts by Past Authors & Guests

Categories

1-Click 4th Annual Heritage Antitrust Conference 5.9Ghz 5G 10b-5 21st amendment 340B AALS Aaron Perzanowski ABA ABA Journal abuse of dominance abuse of process ACA academic freedom Adam Smith administrative law admob adtech Advertising advocacy Aereo Aetna Aetna-Humana merger Affordable Care Act ag-biotech agbiotech Agency Costs agency model agriculture AgTech AHA AI airbnb airlines ajit pai a la carte Alchian alcohol Alden Abbott algorithms Allen Grunes AllVid aluminum cans Amazon Amazon's new browser Amazon.com amd America Invents Act American Bar Association American Express American Innovation and Choice Online Act Amicus Brief Android Ankeny Anne Layne-Farrar Anthem anticompetitive foreclosure anticompetitive market distortions anticompetitive petitioning antidumping antiracist antitrust antitrust and platforms antitrust division antitrust doctrine antitrust enforcement antitrust enforcement risk antitrust in agriculture antitrust injury antitrust law antitrust penalties antitrust populism antitrust reform antitrust state action doctrine Antonin Scalia API Apple Apple App Store Apple v. Pepper appropriability App Store arbitration Arbitron Ardagh aria diagnostics Armen Alchian Arrow Article 102 asbestos Association of American Law Schools at&t AT&T/Time Warner Merger auctions Australia authorized consent auto dealer balto bandwidth caps bankruptcy BARDA Barriers to Entry barrier to entry baumol bayer bees behavioral economics behavioral law and economics Behavioral Psychology Ben Edelman Benjamin Edelman Ben Klein ben sperry Berin Szoka bert foer Beth Wilkinson beverage containers Bias bid rigging big data big tech Bill Kovacic bill northey Bing biometrics biotech bittorrent Blawg 100 Blekko block booking blockchain Blog blog symposium bosch Brad Smith branded drugs Brandeis brexit brian leiter Broadband broadband Internet service broadband privacy rules broadcast broadcasting broken patent system Brooke Group Brown & Williamson BuckyBall budget plan Bundeskartellamt bundled discounts bundling Business business ethics business models Buy Button Buy Now cable CALERA California California governor Jerry Brown California Public Utility Commission Cambridge Analytica Canada canadian competition bureau Canadian Supreme Court cannibalization capitalism CARES Act carl shapiro Carriage cartels CCI CCPA CDA 230 cellophane fallacy cell phone tracking cellular automata Center for the Protection of Intellectual Property central planning cfpb chain of substitution Chairman Tom Wheeler Chamber of Commerce chemchina Chevron Chevron U.S.A. Inc. v. Natural Resources Defense Council Inc. chicago economics Chicago School Chief Judge Randall Rader Children's Online Privacy Protection Act China CHOICE Act Chris Hoofnagle christine varney Cigna Cigna-Anthem merger Citizens Broadband Radio Service Civil rights CJEU Clarence Thomas Class Action Clayton Act clearance close corporations cloud computing Clyburn Coase coffee shop collusion Comcast comity commerce clause commercialization Commercial speech regulation Commissioner Ohlhausen Commissioner Pai Commissioner Wright common carrier Common Law common law of consent decrees common ownership Communications Act Communications Decency Act. Section 230 competition competition advocacy Competition Commission of India Competition law competition law and economics competition report complements complexity compulsory license computer chip Concentration conference conflict of interest Congress Congressional Review Act consent decree consent order consolidation constitution constitutional political economy consumer consumer choice consumer financial protection bureau consumer protection consumer welfare consumer welfare standard contestability Contract contracts contractual freedom COPPA copyleft copyright copyright exceptions copyright exhaustion copyright law Copyright Office copyright policy coronavirus corporate & securities law corporate buybacks corporate crime corporate governance corporate law corporate social responsibility corporate speech cost-benefit analysis COVID covid-19 Covidien CPIP CPSC CPUC Craig Zucker Crawford CREATES Act credit cards crime criminal justice reform CRISPR Criticism of patents Crony Capitalism crop protection CVS Cyanogen cybersecurity Damien Geradin Dan Crane Daniel Crane Danny Sullivan Dan Spulber Daraprim data data-property rights data barrier to entry Data Caps data collection data portability Data Protection Regulation data security David Olson David Teece DC Circuit DEA debit cards Deception decision theory Declan McCullagh defamation defaults deference De Loecker and Eeckhout demand letters demograhics demographics Demsetz design patent design patents DGComp Diamond Rio digital divide digital farming digital first sale doctrine Digital Markets Act digital markets unit digital media Digital Services Act Digital Single Market Digital video recorder direct distribution DirectTV disaster response disclosure disgorgement Disney disruption dissent DMCA dodd-frank doj DOJ agriculture workshop DOJ Antitrust Division dollar do not track DOT double marginalization douglas dynamics dow Dr. Miles DRM Drones drug pricing Drugs drug shortages Due Process Duopoly Rule dupont durbin amendment Duty to deal DVR dynamic competition Dynamism e-book e-books e-cigarettes e-commerce EBay EC EchoStar econometrics economic analysis economic freedom economic liberty economic literature economic modeling economic prosperity economics economic studies economies of scale economists ECPA Edelman Edith Ramirez Ed Markey education EFF effects analysis Efficiencies efficient markets elevators Eli Dourado Elizabeth Nowicki elizabeth warren Elon Musk email EME EMI empirical evidence empirical study employment Encino encryption end user lawsuit Engine entitlement programs entrepreneurship entry entry barriers environment environmental regulation Epic Games v. Apple Epic v. Apple epidemiology equal protection clause equitable monetary relief equity Equustek Eric Clemons Eric Fruits Eric Goldman error costs escalators ESPN essential facilities Essential patent EU EU General Court European Commission European Court of Justice European Union evasion of a competitive constraint excessive pricing excludability exclusionary conduct exclusion order Exclusive dealing executive compensation exemptions expedia experts export cartels externalities Extraterritoriality F. Scott Kieff FAA facebook FairSearch fair use fake news fama and french Fannie Mae fast track FCC FCO FDA FDAAA FDR Federal Arbitration Act Federal Aviation Administration Federal Communication Commission Federal Communications Commission Federalist Society Federal Reserve Board Federal Trade Commission Feld fiduciary duty film financial reform financial regulation financial services regulation First Amendment forbearance foreclosure foundem founders Fourteenth Amendment Fourth Amendment four to three merger Fox France franchising FRAND Franken frank pasquale fraud Fred Campbell Fred McChesney freedom of contract Free Expression Free Press free speech free trade agreements Friedrich Hayek ftc FTC-DOJ workshop FTC Act FTC Commissioner FTC common carrier exception FTC guidelines FTC Privacy Report FTC Technology & Reform Project FTC v Qualcomm Furman report GAC GAO Gary Becker Gary Reback GDP GDPR gender imbalance gene editing General Motors generic drugs genetic information geoffrey manne George Mason George Mason University George Mason University Law School George Mason University School of Law Germany gig economy Gigi Sohn glass Glenn Manishin Global Warming GMO Goodlatte Discussion Draft google Google Apps Google Fiber Google Flights Google Mobile Services Google Play Google Search Google Shopping gordon crovitz Gorsuch government government intrusion government procurement Grail grassley gTLD guidelines gus hurwitz Hal Singer handout harm-reduction-posts harm reduction Harm to Competition Harold Demsetz Harold Feld Hart–Scott–Rodino Antitrust Improvements Act Harvard Business Review Hatch-Waxman Hatch-Waxman Integrity Act hate speech Hayek health care health care reform debate health insurance mergers hedge funds henry g. manne Henry Manne herbert hovenkamp Herb Kohl hertz HHI higher education HIPAA hipster antitrust hiQ v. LinkedIn HJC Report holder Hollywood homeless hoofnagle horizontal market division Horizontal merger Hospital Mergers Hot Docs housing Hsieh and Rossi-Hansberg HSR HTTPS Hulu Humana humor HWIA Hyperbolic discounting IA IBM IBooks iBookstore ICANN icle ICN ideas in action ideology IEEE Illinois Brick Illumina IMG College Immunity In-app purchases Incentive Auction incentives incitement income independent dealers India indirect purchaser inducement Industrial organization industrial policy industrial reorganization act Industry structure inflation information age Informational Injury information asymmetry infrastructure injunction innovation innovation act Innovation Markets insider trading Instacart Instagram institutional comparison institutional investors insurance insurance mergers intangibles intel Intellectual property Intellectual Property Rights Intel settlement interchange interchange fees intercollegiate sports intermediaries intermediary liability international antitrust international center for law and economics international competition international competition network international law international politics international trade international trade commission internet Internet Access Internet Association internet exceptionalism Internet governance Internet Monopolies Internet of Things internet regulation Internet search Internet service provider interoperability inter partes review intervention Investor Ioannidis iOS IP iPad IP and Pharma IP licensing guidelines IPOs Ireland ISPs ITA italy ITA Software ITC iTunes jack calfee James Bessen James Buchanan James Cooper james grimmelmann Japan Jeff Eisenach Jerry Brito jim huffman Joanna Shepherd jobs Joe Biden John Deere John Stratton Joint Sales Agreements joint venture Jonathan Sallet Jones Act Jon Jacobson Jon Leibowitz Jos. A Bank Josh Hawley Joshua Gans joshua wright Josh Wright Journalism Journal of Law and Economics JSA Julian Morris Julius Genachowski killer acquisition kill zones Kindle King v Burwell knowledge problem Kohl Kone L-Band labmd Labor Law labor markets labor unions Lady Gaga larry downes Larry Ribstein larry ribstein rip Law Law and economics Law and Economics Center law enforcement Law school law school clinics Lawsuit lawyering lawyers Learfield Sports Leeds Law School Leegin Leemore Dafny Legal clinic legal scholarship legislation Leibowitz libertarian licensing lighthouse Limelight Lina Khan linkLine litigation litigation waste LLCs LLM Local Broadcasters Local Choice local government logistics lyft lynn stout macro Macy’s major publishers Makan Delrahim malpractice Manne Margrethe Vestager market definition market failure market for corporate control market intervention market power Markets Mark Lemley Mark Schultz markups marriage marshall steinbaum Materiality mathematics Maureen Ohlhausen mavericks mccaskill McWane meat media medicaid Medical Devices medical testing medicare Medicare Advantage Medtronic men's apparel Men's Warehouse Mercatus Center merger merger analysis merger efficiencies merger guidelines merger review mergers MetroPCS meurer MFN MHHI MHHI Delta Michael Risch microsoft Mike Baye Mike Lee Military Milton Friedman milton mueller Minimum efficient scale minimum viable scale minimum wage minority shareholding Missouri MMR Mobile mobile apps modeling moligopoly monopolization Monopoly monopsony monsanto mortgage mossoff most favored nations clause Most favoured nation Motorola Motorola Mobility movies mozilla v. FCC mRNA multi-sided markets Multilateral Pharmaceutical Merger Task Force municipal broadband muris music Music industry mutual funds MVPD N-Data nathan newman National Broadband Plan nationalization national security National Security Agency National Telecommunications and Information Administration NCAA Neil Turkewitz neo-Brandeisian Netflix net neutrality NetNeutrality network effects network management Network neutrality New Deal New England Journal of Medicine New Jersey New Madison Approach New York New York Times Nextag nicolas petit Nielsen Company Ninth Circuit nirvana fallacy NIST Noam Scheiber Nobel prize Nomi Nomi Technologies non-combustible tobacco products non-horizontal merger guidelines non practicing entity nonprice effects nonprofits NPE NPRM NSA NTIA nvidia Obama Administration obamacare obituary occupational licensing Office of Technology Assessment Ohio v. American Express oil and gas OIO omidyar online advertising Online Communities online privacy open access open internet Open Internet Order open source opt-in options option timing scandal oregon Orin Kerr OTA OVD ownership Oxford Union packaging Packers and Stockyards Act PAE paradox of choice parenting partnerships Patent patent assertion entity patent enforcement patent freedom patent holdout patent holdup Patent infringement patent licensing patent litigation patent litigation explosion Patent Office patent reform Patents patent thicket patent troll patent trolls paul rubin payment cards payments payola PBMs Pennsylvania permissionless innovation per se personal finance petit-moligopoly-symposium pharmaceutical pharmaceutical industry pharmaceuticals Philadelphia Physiocrats pinterest piracy piracydata.org Plaintiff plastic platform platforms policy Policy Statement political economy Politico politics POM Wonderful portugal Post-Chicago potential competition precautionary principle precedent predatory pricing preemption preliminary injunction presumption price-fixing price controls price discrimination price gouging primary care physicians prioritization privacy privacy bill of rights Privacy NPRM privacy regulation private antitrust litigation private equity private label goods prizes Problem of Social Cost process product design innovation product hopping productivity Professor Gus Hurwitz profits Progressive Policy Institute property property rights Protectionism Protest PTAB public choice public interest Public Knowledge Public Performance public utilities Publishing publishing industry Qualcomm qualified immunity qwerty R&D rader railways raising rivals' cost raising rivals’ costs rambus rankings rationin rationing Real estate economics reasonable royalty reason magazine recovery reddit refusals to deal regional sports network regulating the Internet regulation regulatory capture regulatory humility regulatory overreach regulatory reform regulatory reform; executive orders relevant market REMS rent extraction rent seeking reorganization report on patent litigation republican primary resale price maintenance Restoring Internet Freedom Order Retail retrans revolving door Rewheel Rexam Richard Epstein Richard Posner Richard Thaler Rick Rule right-to-be-forgotten Rob Atkinson Robert Bork robert shapiro Robinson-Patman Act robocalls Rockefeller Ronald Coase ron cass Ron Wyden RPM rpx rule of law Rule of reason rural deployment Rural Digital Opportunity Fund Ruth Bader Ginsburg safe harbors Saint-Gobain Saltzer Medical Group Samsung sarbanes-oxley satellite Satya Nadella SB 1161 scarcity scholarship Schumpeter scotch whisky scraping screentime search search bias Search Engine Land Search Engines search neutrality search plus your world seattle Section 2 section 5 section 6(b) Section 6(g) section 230 Section 337 Section 629 Section 706 Securities Law securities litigation securities regulation seeds seeds and traits self-preferncing senate Senator Mike Lee SEP separation of powers SEPs sequenom Set-Top Box settlements Shane Greenstein Sharing Economy Sherman Act Sherman Antitrust Act SHIELD Act Shipping sideloading Signaling SIII simon johnson simplicity slotting contracts small business smallest component principle snapchat social media social media summit social search Sonia Sotomayor Sony SOPA/PIPA South Korea sovereign immunity SpaceX spectrum SpectrumCo Spectrum Scarcity sponsored data sports Spotify Sprint Sprint Nextel SSO SSRN St. Luke's standard-essential patent standards standard setting standing startups state antitrust enforcement statistics stealth consolidation STELA Steve Bainbridge steven pearlstein stigler stimulus strategic market status streaming structural presumption Structure–conduct–performance paradigm subsidies substitutability super-star firms supply chains Suprema Supreme Court Supreme Court of the United States SURE Act Surveilance Susan Crawford switching costs Symposium syngenta t-mobile T-Mobile USA takeovers takings Tariff Act tariffs Tatel Taxicabs tech companies techfreedom technology Technology & Reform Project tech policy telecommunications Telecommunications Act Telephone Consumer Protection Act television Tesla Tesla Model S Tesla Motors Texas Theranos third party sellers thomas mccarthy Thomas Sowell Thomas W. Hazlett Thom Lambert thrifty Thune ThyssenKrupp time-shifting Time Warner Time Warner Cable Tim Muris Tim Wu Title II TiVo TLD tobacco todd zywicki tom barnett Tom Hazlett Tom Rosch tom wheeler Top-level domain torts TPA TPP TPRC tracking trade trade agreement trade agreements tradecomet trademark trade promotion authority fast-track trade promotions trade secret tragedy of the anticommons Trans-Pacific Partnership Transaction cost transaction review transgenic seeds transportation costs transportation regulation Trinko trisomy trump Turing Pharmaceuticals TWC Twenty-First Century Fox Twitter two-sided markets tying UARG UAS UBB uber UBI UDAP UK UK CMA UMC UMG unconscionability unconstitutional uncorporations unemployment unfair methods of competition Unfairness Unfair Practices unilateral conduct unincorporated business entities unintended consequences United Kingdom United States United States Congress United States Constitution United States Court of Appeals for the District of Columbia Circuit United States Department of Justice United States House Committee on the Judiciary united states trade representative Universal Music Group universal search universities University of Chicago Law School Usage-Based Pricing US Cellular US Consumer Product Safety Commission USDA user-generated content user interface USITC USPTO US senate US v. Microsoft utility regulation vaccine vaping varney ventilators Venture capital VENUE Act Verizon Verizon Communications Verizon v. FCC Verizon Wireless Vertical integration Vertical Merger Guidelines vertical mergers vertical restraints Vertical search Vestager veto video video programming Video Programming Market vilsack Virginia Postrel W3C walled garden wall street journal Walmart war Washington DC Web search engine WhatsApp white house privacy bill Wi-Fi wifi Windows Phone wireless Wright Wu Wyndham Yahoo yellow journalism Yelp zero rating zoning Zucker

TOTM Archives

TOTM Archives

Subscribe by Email

Enter your email address:

Join 1,208 other subscribers

Email Address

Subscribe by RSS

Follow Us

Twitter

Loading Comments...

Write a Comment...

Email (Required)

Name (Required)

Website

Send to Email Address Your Name Your Email Address

Cancel

Post was not sent - check your email addresses!

Email check failed, please try again

Sorry, your blog cannot share posts by email.

%d bloggers like this: