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

TOLOSA, LETICIA EVA

Journal of Economics, Finance and Administrative Science

Journal of Economics, Finance and Administrative Science

Lugar: Lima; Año: 2023

urposeThis paper aims to provide empirical evidence for using the prospect theory (PT) basic assumptions in the Argentine context. Mainly, this study analysed the financial decision-making process in students of the economic-administrative academic area of two universities, one public and one private, in Córdoba.Design/methodology/approachThe analysis methodology included (1) the descriptive statistical analysis to identify the presence of the certainty, reflection and isolation effects; (2) the construction of a set of indicators on the application of the PT; (3) the chi-squared independence test, to determine if the decisions made are independent of the degree course taken; (4) the non-parametric Kruskal?Wallis test, to determine if the decisions made by individuals vary according to the semesters taken or students´ levels of progress; and (5) the non-parametric Mann?Whitney test, to determine if there are differences between the decisions made by men and women.FindingsThe empirical