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Key Insights By Connecting Prospect Theory and Drama Theory
Key Insights By Connecting Prospect Theory and Drama Theory
To reiterate, the rescue mission option did not possess the highest expected value. The highest expected value was the option that offered the lower variance in outcome value as well as the higher probability of suc- cess. This option was the one that pursued economic and political sanc- tions as well as negotiations. This strategy did bring about the eventual release of the hostages.104
Key Insights Prospect and Drama Connected
Actor Proposer
Actor Receiver
Initiative
Dilemmas
Description
Notes
Frame
Balance Gain/Losses respect reference point
Expected value
Probability of success
Loss aversion
Effect of factors on Decision
Possible decison
1
Putin
Zelensky
PersuasionRejection
Trust
Open
Perception of loser internally and externally Trust dilemma with his Top supporters (Drama Theory)
Low
Very high
2
Open
3
Open
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