According to Prospect Theory, When Faced with a Decision, People

Multiple Choice

According to prospect theory, when faced with a decision, people first:

A) consider base rates and then make a decision that results in guaranteed utility.
B) calculate expected utility and then ignore alternative sources of information that may conflict with this subjective calculation.
C) simplify available information and then make a decision that offers the best value.
D) choose the best prospect and then seek information out to justify that decision.