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Financial Market Equilibria with Cumulative Prospect Theory [PDF]
Journal of Mathematical Economics, 2010 The paper first shows that financial market equilibria need not to exist if agents possess cumulative prospect theory preferences with piecewise-power value functions. This is due to the boundary behavior of the cumulative prospect theory value function,
Hens, Thorsten; https://orcid.org/ +5 more
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Cumulative Prospect Theory Portfolio Selection [PDF]
SSRN Electronic Journal, 2020 We introduce elements of Cumulative Prospect Theory into the portfolio selection problem and then compare stock portfolios selected under the behavioral approach with those selected according to classical approaches, such as Mean Variance and Mean Absolute Deviation ones.
Diana Barro +2 more
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An axiomatization of cumulative prospect theory [PDF]
Journal of Risk and Uncertainty, 1993 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Wakker, P.P., Tversky, A.
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Cumulative prospect theory and the St. Petersburg paradox [PDF]
Economic Theory, 2006 We find that in cumulative prospect theory (CPT) with a concave value function in gains, a lottery with finite expected value may have infinite subjective value. This problem does not occur in expected utility theory. The paradox occurs in particular in the setting and the parameter regime studied by Tversky and Kahneman [15] and in subsequent works ...
Rieger, M, Wang, M
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A behavioural approach to financial portfolio selection problem: an empirical study using heuristics [PDF]
, 2014 This thesis was submitted for the degree of Doctor of Philosophy and awarded by Brunel UniversityThe behaviourally based portfolio selection problem with investor's loss aversion and risk aversion biases in portfolio choice under uncertainty are studied.
Grishina, Nina
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Cumulative prospect theory and deferred annuities [PDF]
Review of Behavioral Finance, 2019 Purpose Although it has been proved theoretically that annuities can provide optimal consumption during one’s retirement period, retirees’ reluctance to purchase annuities is a long-standing puzzle. The purpose of this paper is to use behavioral model to analyze the low demand for immediate annuities.
Chen, A., Haberman, S., Thomas, S.
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Identification of cumulative prospect theory parameters for mode choice model [PDF]
MATEC Web of Conferences, 2019 The use of Cumulative Prospect Theory (CPT) in decision making related to transportation risk is still much debated. Mainly because of the travel and socio-economic characteristics of the traveller it possible for different responses to the specified ...
Indriany Sylvia +3 more
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The Use of Prospect Theory for Energy Sustainable Industry 4.0
Energies, 2021 Industry 4.0 challenges facilities entrepreneurs to be competitive in the market in terms of energy by rational decision making. The goal of the paper is aimed at introducing Prospect Theory (PT) in Industry 4.0 for making decisions in order to select an
Aldona Kluczek +2 more
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An Interval-Valued Three-Way Decision Model Based on Cumulative Prospect Theory
AppliedMath, 2023 In interval-valued three-way decision, the reflection of decision-makers’ preference under the full consideration of interval-valued characteristics is particularly important. In this paper, we propose an interval-valued three-way decision model based on
Hongli Zhou, Xiao Tang, Rongle Zhao
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Managerial Motivations in Fraudulent Financial Reporting According to Cumulative Perspective Theory [PDF]
بررسیهای حسابداری و حسابرسی, 2021 Objective: The purpose of this study is to answer the question of whether the four management attitudes toward risk, which is related to the Cumulative Prospect Theory, is effective in the occurrence of fraudulent financial reporting or not.
Ali Saghafi +1 more
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