Prospect theory in the financial decision-making process: An empirical study of two Argentine universities

MARIA PAULA ROJO

Journal of Economics, Finance and Administrative Science

Emerald Publishing Limited

Año: 2023

2218-0648

urpose ? This paper aims to provide empirical evidence for using the prospect theory (PT) basic assumptions inthe Argentine context. Mainly, this study analysed the financial decision-making process in students of theeconomic-administrative academic area of two universities, one public and one private, in Cordoba.Design/methodology/approach ?The analysis methodology included (1) the descriptive statistical analysisto identify the presence of the certainty, reflection and isolation effects; (2) the construction of a set of indicatorson the application of the PT; (3) the chi-squared independence test, to determine if the decisions made areindependent of the degree course taken; (4) the non-parametric Kruskal?Wallis test, to determine if thedecisions made by individuals vary according to the semesters taken or students? levels of progress; and (5) thenon-parametric Mann?Whitney test, to determine if there are differences between the decisions made by menand women.Findings ? The empirical