Z/Yen Contributes To Nobel Prize

Friday, 01 November 2002
By Now&ZYen

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Many friends of Z/Yen who have spent a fine afternoon or evening with us on Sailing Barge Lady Daphne know that we are so socially-challenged we find it necessary to break the ice with games such as our trivia quizzes, our Boating Bourses or OligopoLuedo (at least it's not Twister or Pictionary!).Our Boating Bourses illustrate Prospect Theory particularly well, which has found its way from our games into our work on risk/reward perceptions and decision-making. Well, much to our surprise (and probably all our friends, true and otherwise), one of the formulators of Prospect Theory, Daniel Kahneman, was awarded the 2002 Nobel Prize in economic sciences “for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty.” We're sure that the award resulted from the Z/Yen support for Prospect Theory and, even if it did not, we socially challenged individuals will mumble so.