The DOI matches its Crossref record; 60 of the 60 references it cites were found in a registry or an index.
Prospect Theory and International Relations: Theoretical Applications and Analytical Problems
Abstract
In this essay I evaluate the potential contribution of prospect theory to our understanding of international relations. I begin with the implications of loss aversion, the endowment effect, risk orientation, and framing for theoretical questions relating to the stability of the status quo in international politics, deterrence, bargaining, and preventive war. I then raise conceptual and methodological problems which complicate the theoretical and empirical application of prospect theory to international behavior. I illustrate my arguments with references to some recent attempts to use a prospect theory framework to guide case studies of crises decision-making. I conclude that in applying prospect theory to empirical cases, the analyst must demonstrate not only that empirical behavior is consistent with the theory but also that the observed behavior cannot adequately be explained by a rational choice model which posits the maximization of expected value.
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Cites
Prospect theory: An analysis of decision under risk
Kahneman, D., & Tversky, A. (1988) · Decision, Probability and Utility · doi:10.1017/cbo9780511609220.014 · Cited by 32,474
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“Risk, Ambiguity, and the Savage Axioms.”
Ellsberg, D. (1961) · The Quarterly Journal of Economics · doi:10.2307/1884324 · Cited by 7,891
Schelling, T. C. (1960) · Cited by 7,672
Status quo bias in decision making
Samuelson, W., & Zeckhauser, R. (1988) · Journal of Risk and Uncertainty · doi:10.1007/bf00055564 · Cited by 5,897
Toward a positive theory of consumer choice
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Falsification and the Methodology of Scientific Research Programmes
Lakatos, I. (1970) · Criticism and the Growth of Knowledge · doi:10.1017/cbo9781139171434.009 · Cited by 4,649
Falsification and the Methodology of Scientific Research Programmes
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Cited by
Seven Models of Framing: Implications for Public Relations
Hallahan, K. (1999) · Journal of Public Relations Research · doi:10.1207/s1532754xjprr1103_02 · Cited by 872
A framework for mapping and comparing behavioural theories in models of social-ecological systems
Schlüter, M., Baeza, A., Dressler, G., Frank, K., Groeneveld, J., Jager, W., Janssen, M. A., McAllister, R. R. J., Müller, B., Orach, K., et al. (2017) · Ecological Economics · doi:10.1016/j.ecolecon.2016.08.008 · Cited by 475
On the Evolutionary Origin of Prospect Theory Preferences
McDermott, R., Fowler, J. H., & Smirnov, O. (2008) · The Journal of Politics · doi:10.1017/s0022381608080341 · Cited by 370
PROSPECT THEORY AND POLITICAL SCIENCE
Mercer, J. (2005) · Annual Review of Political Science · doi:10.1146/annurev.polisci.8.082103.104911 · Cited by 364
Foreign Policy Analysis Yesterday, Today, and Tomorrow
Hudson, V. M., & Vore, C. S. (1995) · Mershon International Studies Review · doi:10.2307/222751 · Cited by 305
Metadata
- Authors
- Levy, J. S.
- Venue
- Political Psychology
- Publisher
- JSTOR
- Published
- 1992-06
- Volume
- 13
- Issue
- 2
- Pages
- 283
- ISSN
- 0162-895X (ISSN-L)
- OpenAlex
- W2079071312
- Cited by
- 373
- References
- 60
- FWCI
- 33.16
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
