Prospect Theory, Neoclassical Realism, and Foreign Policy Puzzles in Asian Security

This book employs prospect theory within the framework of neoclassical realism to explain risk-taking behavior in the Asian security domain. Prospect theory is a behavioral theory of decision making under different conditions of risk. Neoclassical realism is a realist model in the study of foreign policy. The integration of prospect theory and neoclassical realism not only extends the application of prospect theory to international relations and area studies, but also broadens the theoretical domain of realism beyond traditional rational choice approaches. In sum, therefore, this book explores the possibility of employing prospect theory and neoclassical realism in the study of Asian security issues in international relations.