Teoría del comportamiento irracional

The body of behavioral theory, called Prospect theory, is the process of individual decision making as opposed to market activity typical in Economics. The substance of reserch from psychicological theory (such a Kahneman and Tversky(1979)) is that preferences are labile (in phycological terms it means "free and uncontrolled moods or behaviors expressing emotions"), i.e preferences might not be fixed because the process used by individuals to make decisions is very sensitite to framing effects.

Juan D. Carrillo en el foro socioeconomico http://www.sociedadabierta.es/ articula en La Economía del Comportamiento que asumir la teoría tradicional y el supuesto de que las preferencias de los individuos son conocidas, estables y coherentes, se conviere en un supuesto muy poco realista. De esta forma, el estado emocional del individuo afecta de manera muy sensible a sus decisiones económicas, financieras y de comportamiento. Carrillo nos arerca a esta realidad planteandonos el porqué de no poder mantener en el tiempo los buenos propósitos de fin de año, como dejar el tabaco o hacer algo de deporte, una actitud nada coherente ni racional, ¿verdad?.

In my Ms dissertation called Attitudes toward Risk: Measurement in An Experiemental Financial Market, a financial market under there different experimental designs was created in the lab where the participants were undergraduate students at the University of Alicante. Participants, expose to individual and aggregate risk ,are given money which they can keep or which they can use to buy and sell contracts. This work explores attitudes toward risk using both market behavior data and questionnaire data. Answers to hypothetical questionnaire are consistent with risk aversion behavior found in the market studied. The observed changes through experimental environmental in aggregate risk aversion elicited by questionnaire arises the possibility that preferences might be the results of framing effects.