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Cumulative prospect theory's functional menagerie

โœ Scribed by Henry P. Stott


Publisher
Springer
Year
2006
Tongue
English
Weight
411 KB
Volume
32
Category
Article
ISSN
0895-5646

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๐Ÿ“œ SIMILAR VOLUMES


Reference dependence in cumulative prosp
โœ Ulrich Schmidt ๐Ÿ“‚ Article ๐Ÿ“… 2003 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 198 KB

A central feature of (cumulative) prospect theory is reference dependence, i.e. the value function depends on gains and losses relative to a status quo and not on final wealth positions as in expected utility theory. Until now, all theoretical work on prospect theory only considered a fixed status q

Original and cumulative prospect theory:
โœ Hein Fennema; Peter Wakker ๐Ÿ“‚ Article ๐Ÿ“… 1997 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 194 KB

This paper discusses dierences between prospect theory and cumulative prospect theory. It shows that cumulative prospect theory is not merely a formal correction of some theoretical problems in prospect theory, but it also gives dierent predictions. Some experiments by Lola Lopes are re-analyzed, an