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Modeling bounded rationality in discretionary lane-changing with the cumulative prospect theory
Transportation lettersDiscretionary lane-changing behavior, a prevalent expressway phenomenon, necessitates driver-centric analysis. Existing studies often assume perfect rationality, neglecting bounded rationality.
Dewen Kong +5 more
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Pricing insurance contracts under Cumulative Prospect Theory
Insurance: Mathematics and Economics, 2012In the paper, a new premium principle is introduced. This premium principle is based on Cumulative Prospect Theory by \textit{D. Kahneman} and \textit{A. Tversky}, [Econometrica 47, 313--327 (1979; Zbl 0411.90012)]. The various properties of this new premium principle are examined in the text.
Kaluszka, Marek, Krzeszowiec, Michał
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International Journal of Contemporary Hospitality Management
Purpose This research paper aims to explore the concerns and determinants of travelers’ behavior toward ChatGPT in the hospitality and tourism context. It also examines the weight of risk factors versus that of motivation and innovation characteristics ...
Heesup Han +5 more
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Purpose This research paper aims to explore the concerns and determinants of travelers’ behavior toward ChatGPT in the hospitality and tourism context. It also examines the weight of risk factors versus that of motivation and innovation characteristics ...
Heesup Han +5 more
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Reference dependence in cumulative prospect theory
Journal of Mathematical Psychology, 2003zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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On complementary symmetry under Cumulative Prospect Theory
Journal of Mathematical Psychology, 2020zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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Cumulative Prospect Theory, Option Returns, and the Variance Premium
The Review of Financial Studies, 2018Abstract We develop a tractable equilibrium asset pricing model with cumulative prospect theory (CPT) preferences. Using GMM on a sample of U.S. equity index option returns, we show that by introducing a single common probability weighting parameter for both tails of the return distribution, the CPT model can simultaneously generate the ...
Baele, Lieven +4 more
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Cumulative prospect theory's functional menagerie
Journal of Risk and Uncertainty, 2006zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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Temporal Stability of Cumulative Prospect Theory
SSRN Electronic Journal, 2019We evaluate the hypothesis of temporal stability in risk preferences using two recent data sets from longitudinal lab experiments. Both experiments included a combination of decision tasks that allows one to identify a full set of structural parameters characterizing risk preferences under Cumulative Prospect Theory (CPT), including loss aversion.
Lau, Morten I +2 more
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Cumulative prospect theory challenges traditional expected utility theory
Applied Financial Economics, 2011The Cumulative Prospect Theory (CPT) uses piecewise value functions instead of consumer utility and provides alternative assumptions for investment behaviour approximated by power value function. In this study, our aim to find a generalized value function that will make the value function introduced by Kahneman–Tversky (1992) a special case.
Şaziye Gazioğlu, Nilifer Çalışkan
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INFORMS journal on computing
The goal of this software is to demonstrate the effectiveness of the ADMM method proposed in this paper in the problem of decision making under cumulative prospect theory, as compared to other methods, as well as the effectiveness of the model when ...
Xiangyu Cui +4 more
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The goal of this software is to demonstrate the effectiveness of the ADMM method proposed in this paper in the problem of decision making under cumulative prospect theory, as compared to other methods, as well as the effectiveness of the model when ...
Xiangyu Cui +4 more
semanticscholar +1 more source