Prospect theory is increasingly used to explain deviations from the traditional paradigm of rational agents. Empirical support for prospect theory comes mainly from laboratory experiments using student samples. It is obviously important to know whether and to what extent this support generalizes to more naturally occurring circumstances. This article explores this question and measures prospect theory for a sample of private bankers and fund managers. We obtained clear support for prospect theory. Our financial professionals behaved according to prospect theory and (...) violated expected utility maximization. They were risk averse for gains and risk seeking for losses and their utility was concave for gains and convex for losses. They were also averse to losses, but less so than commonly observed in laboratory studies and assumed in behavioral finance. A substantial minority focused on gains and largely ignored losses, behavior reminiscent of what caused the current financial crisis. (shrink)

There are persons with disabilities in each society. Theinclusion of PWDs by society, as supported by the United Nation’s sustainabledevelopment goals, could be encouraged by advertising. Advertising’sinfluence on one’s worldview is obvious with cultivation theory espousing thephenomenon that prolonged viewing of television could fashion audiences’worldview by making them believe that the images projected are accuratedepictions of reality. PWDs not only nurture compassion within us but provideus with a wealth of opportunities by coming up with inventions that improvetheir quality of life. (...) These inventions could empower PWDs by giving themgreater independence. The global brand, Apple, through its technologicaldevices, gives PWDs jobs, a platform for expression and dignity. Apple hascreated a series of video advertisements that depict its embrace of inclusionthrough its technological innovations. The study examines selected Apple’svideo advertisements using critical discourse analysis. The outcomeof the study is a framework for brands to use as a guide when incorporatingadvertising images on the inclusion of PWDs. (shrink)