The article discusses a new theory called prospect theory that challenges the traditional expected utility theory in decision-making under risk. It shows that people tend to weigh certain outcomes more heavily than probable ones, leading to risk aversion in gains and risk-seeking in losses. The theory suggests that individuals value gains and losses rather than final assets, and decision weights replace probabilities in choices. This alternative theory proposes two phases: editing options to simplify evaluation and choosing the highest value prospect. The study reveals that preferences can be influenced by how probabilities are presented, and offers directions for further research on prospect theory.