Before revision: Since then, generalizations of expected utility theory have proliferated, but the probably most frequently used model is nowadays cumulative prospect theory, a further development of prospect theory, introduced in 1992 by Daniel Kahneman and Amos Tversky.
After revision: Since then, generalizations of expected utility theory have proliferated, but the probably most frequently used model is nowadays cumulative prospect theory, a rank-dependent development of prospect theory, introduced in 1992 by Daniel Kahneman and Amos Tversky.