**1. Introduction**

The prospect theory is a theory in behavioral economics that describes how people make decisions in situations of risk and uncertainty. According to this theory, people evaluate their choices in terms of potential gains and losses, and tend to be loss-averse.

When it comes to innovation, the prospect theory can have several implications. One of them is that people tend to be more risk-averse when dealing with innovations. This is because innovations often involve uncertainty and risk, as it is uncertain whether they will be successful or not.

On the other hand, the prospect theory also suggests that people may be more likely to take risks when the choice involves potential losses rather than gains. This means that if people perceive that a lack of innovation can lead to losses, they may be more likely to adopt new ideas and technologies.

Additionally, the prospect theory can also serve to understand how entrepreneurs and innovative companies make decisions. Entrepreneurs are often more willing to take risks than most people, and this can be partly explained by the prospect theory. They may be motivated to take risks because they have a different perspective on the potential gains and losses, and believe that the potential gains of a successful innovation far outweigh the potential losses.

In summary, the prospect theory can help explain why people are risk-averse when it comes to innovation, as well as motivate entrepreneurs and innovative companies to take risks to pursue potential gains.

Furthermore, some advances in science allow cognitive biases to be bypassed through very specific techniques and situations. This is the case with the study of behavior genetics. Certain gene formats generate a kind of programming for certain behaviors in favor of innovation.

Not only genetics, but epigenetics reveal that the activation of certain molecules linked to genes can affect the formation of specific behaviors, such as those related to entrepreneurship, creativity, and others.

However, genetics and epigenetics are only part of the answer. Culture and how ideas propagate are also an important component in explaining human behavior, including behaviors related to risk and uncertainty.

Simultaneously, the use of specific techniques to deal with cognitive biases also supports decision-making in innovation, especially in controlling the traps that the brain can create in the face of potential danger.

Therefore, the aim of this study is to present the prospect theory as a component part of decision-making in business innovation, especially in the context of risk and uncertainty.

Therefore, it is essential to conduct a careful analysis of risks, benefits, costs, and potential impacts before launching an innovation. This should involve all relevant stakeholders, such as users, customers, suppliers, partners, regulators, and the community at large, to minimize risks and increase the chances of success of the innovation. However, it is important to be aware of new variables arising from recent discoveries in science and behavioral economics that should also be considered.
