Choices, Values, and Frames presents an empirical and theoretical challenge to
classical utility theory, offering prospect theory as an alternative framework.
Extensions and applications to diverse economic phenomena and to studies of
consumer behavior are discussed. The book also elaborates on framing effects and
other demonstrations that preferences are constructed in context, and it
develops new approaches to the standard view of choice-based utility. As with
the classic 1982 volume, Judgment Under Uncertainty, this volume is comprised of
papers published in diverse academic journals. The editors have written several
new chapters and a preface to provide a context for the work.