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Separating response variability from structural inconsistency to test models of risky decision making [PDF]
Judgment and Decision Making, 2012 Individual true and error theory assumes that responses by the same person to the same choice problem within a block of trials are based on the same true preferences but may show preference reversals due to random error.
Michael H. Birnbaum, Jeffrey P. Bahra
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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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The effects of losses and event splitting on the Allais paradox [PDF]
Judgment and Decision Making, 2007 The Allais Paradox, or common consequence effect, has been a standard challenge to normative theories of risky choice since its proposal over 60 years ago. However, neither its causes nor the conditions necessary to create the effect are well understood.
Bethany J. Weber
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A cumulative prospect theory approach to car owner mode choice behaviour prediction
Transport, 2014 The uncertain transportation environment makes travel’s mode choice decision-making behaviour become a complex and alterable process. Based on the cumulative prospect theory, this paper analysed the long-standing use of utility theory for the travel’s ...
Shi An, Xiaowei Hu, Jian Wang
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Probabilistic Extention of the Cumulative Prospect Theory [PDF]
SSRN Electronic Journal, 2013 A number of experiments indicate probabilistic preferences in cases where no one alternative is absolutely optimal. The task of predicting the choice of one of the alternatives among multiple alternatives is then practically important and not trivial.
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Pseudo-Analysis as a Tool of Information Processing
Proceedings, 2022 The theory of the pseudo-analysis is based on a special real semiring (called also tropical semiring). This theory enables a unified approach to three important problems as nonlinearity, uncertainty and optimization, with many applications.
Endre Pap
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Conditioning and Updating Under Cumulative Prospect Theory [PDF]
SSRN Electronic Journal, 2010 Under expected utility theory, unconditional expected utility can be decomposed into a weighted sum of conditional expected utilities where the weights are marginal probabilities. We derive necessary and sufficient conditions for a similar decomposition in the framework of Cumulative Prospect Theory (CPT).
Stomper, Alex, Vierø, Marie-Louise
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The prediction of exit choice using cumulative prospect value
Journal of Safety Science and Resilience, 2023 Exit choice is essential for pedestrian safety and evacuation efficiency during the context of an emergency. Cumulative prospect theory is a widespread realistic decision-making theory that can transform choice outcomes and probabilities into subjective ...
Dongli Gao +5 more
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Discrete Dynamics in Nature and Society, 2021 The cumulative prospect theory provides a better description for route choice behavior of the travelers in an uncertain road network environment. In this study, we proposed a multiclass cumulative prospect value- (CPV-) based cross-nested logit (CNL ...
Dongmei Yan, Yang Yang
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Skewness as an explanation of gambling in cumulative prospect theory [PDF]
Applied Economics, 2009 Skewness of return has been suggested as a reason why agents might choose to gamble, ceteris paribus, in Cumulative Prospect Theory (CPT). We investigate the relationship between moments of return in two models where agents choices over uncertain outcomes are determined as in CPT.
Peel, David, Law, DAvid
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