Prospect theory frequently explains the empirical results of Bowman\'s paradox (negative relationship between risk and return). However, the empirical econometric model of these researches is misspecified. This study used a data-driven approach to improve the econometric model. Empirical results based on the improved econometric model are also reinforced by data visualization to be illustrated in depth. For this purpose, we used the data of 622 listed firms on the Pakistan Stock Exchange from 2000 to 2019. Our results contradict the literature on prospect theory based on the improved econometric model.

Water is a critical natural resource for socio-economic and environmental systems. In transjurisdictional river basins, when basin-wide water pollution management scheme is absent, stakeholders tend to adopt utility-maximizing behavior based on incomplete information. Such a scenario could lead to a free-riding problem. This paper attempts to elucidate the strategic behavior of riparian regions using prospect theory, evolutionary game, and system dynamics. The evolution of riparian regions\' strategic behaviors is explained, and the impacts of different factors on their strategic selections are simulated. The results showed that the prospective value of factors and stakeholders\' attitude to risk are a key for resolving transjurisdictional river water pollution problems. Improving the subjective judgment of the probability of water pollution, raising awareness, strengthening the penalties in \"polluter pays\" schemes, abandoning segmented river basin management, and building a basin-wide water management system are vital for maintaining the ecological integrity of any transjurisdictional river basin and accelerate the sustainable development of its riparian regions.

This paper addresses the key assumption in behavioral and transportation planning literature that, when people use a transit system more frequently, they become less dependent on and less sensitive to transit maps in their decision-making. Therefore, according to this assumption, map changes are much less impactful to travel decisions of frequent riders than to that of first-time or new passengers. This assumption-though never empirically validated-has been the major hurdle for transit maps to becoming a planning tool to change passengers\' behavior. This paper examines this assumption using the Washington DC metro map as a case study by conducting a route choice experiment between 30 Origin-Destination (O-D) pairs on seven metro map designs. The experiment targets two types of passengers: frequent metro riders through advertisements on a free daily newspaper available at DC metro stations, and general residents in the Washington metropolitan area through Amazon Mechanical Turk, an online crowdsourcing platform. A total of 255 and 371 participants made 2024 and 2960 route choices in the respective experiments. The results show that frequent passengers are in fact more sensitive to subtle changes in map design than general residents who are less likely to be familiar with the metro map and therefore unaffected by map changes presented in the alternative designs. The work disproves the aforementioned assumption and further validates metro maps as an effective planning tool in transit systems.