Prospect Theory Mind Map for Studying Decisions
See how the core ideas of prospect theory connect, from reference points to probability weighting. Turn your own readings or slides into a map in minutes.
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CogniGuide at a glance
- What you get
- Interactive mind maps of the main ideas and how they connect. Free: overview maps (detailed maps on your first 3 creations). Plus: detailed maps with supporting concepts.
- Exports
- Your first PDF or PNG export is free; Plus exports anytime.
- Price
- Free plan: 5 creations a week, up to 3 a day. Plus: $9.99/month or $99.90/year (USD; local prices at checkout).
- Sign-up
- A free account is required before you create anything (Google or email). No credit card.
- What you can upload
- PDF, Word (.docx), PowerPoint (.pptx), plain text or Markdown, and images (PNG, JPG, WebP, GIF), or type a topic. One file per creation on the free plan; several at once on Plus.
How it compares: vs Knowt · vs Quizlet · vs NotebookLM · vs Mapify
Build Your Own Prospect Theory Map
Start from the example, then adapt it to your course notes, textbook chapter or lecture slides.
Map from your own material
Upload a PDF, Word or PowerPoint file, or type the topic, and get a structured map of the key ideas.
Expand any concept
Click a node such as loss aversion to have AI add examples, definitions and related effects.
Quiz yourself from the map
Turn the map into a quiz to test whether you can separate the value function from probability weighting.
How to Make a Prospect Theory Mind Map
Three steps take you from a reading list to a study map you can revise from.
- 1
Add your material
Upload your lecture slides, reading or notes, or simply type prospect theory.
- 2
AI builds the map
The generator groups the ideas into branches: value function, weighting, reference points and biases.
- 3
Study and test
Expand weak branches, edit wording, export a PNG or PDF, or turn the map into a quiz.
Prospect Theory Concept Map: Key Ideas Explained
Prospect theory, developed by Daniel Kahneman and Amos Tversky in 1979, describes how people make choices under risk. It departs from expected utility by judging outcomes as gains or losses relative to a reference point, and by weighting probabilities non-linearly. A prospect theory mind map groups these ideas into a value function, a probability weighting function and a set of systematic biases.
- Reference point: gains and losses are measured from a baseline, not final wealth
- Value function: concave for gains, convex and steeper for losses
- Loss aversion: losses weigh more heavily than equivalent gains
- Probability weighting: small probabilities are overweighted, large ones underweighted
- Framing effects: the same outcome can produce different choices depending on wording
Use the map to revise before an exam, or to compare how each branch explains a real decision. To build a version from your own readings, CogniGuide turns your notes into a personalized mind map.
Explore related topics
Prospect Theory Mind Map Questions
Answers on the theory and on making your own map.
What is the main claim of prospect theory?
People evaluate outcomes as gains or losses relative to a reference point, and they weigh probabilities non-linearly. This explains many departures from expected utility theory observed in experiments.
What is loss aversion?
Loss aversion is the tendency for losses to feel larger than equivalent gains. Kahneman and Tversky estimated that losses loom roughly twice as large as gains, a figure that varies across studies.
Which files can I use to make my map?
You can upload a PDF, Word (DOCX) or PowerPoint (PPTX) file, a text or Markdown file, or an image. You can also type a topic instead.
Is it free to create a prospect theory mind map?
Yes. The free plan allows 5 creations a week with no payment needed. Paid plans raise the limits.