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Additive Utility in Prospect Theory [PDF]
Management Science, 2009 Prospect theory is currently the main descriptive theory of decision under uncertainty. It generalizes expected utility by introducing nonlinear decision weighting and loss aversion. A difficulty in the study of multiattribute utility under prospect theory is to determine when an attribute yields a gain or a loss.
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International Journal of Technology Assessment in Health Care, 2005
Objectives:Prospect theory (PT) hypothesizes that people judge states relative to a reference point, usually assumed to be their current health. States better than the reference point are valued on a concave portion of the utility function; worse states are valued on a convex portion.
David, Feeny, Ken, Eng
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Objectives:Prospect theory (PT) hypothesizes that people judge states relative to a reference point, usually assumed to be their current health. States better than the reference point are valued on a concave portion of the utility function; worse states are valued on a convex portion.
David, Feeny, Ken, Eng
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Prospect Theory- an experiment
2022This experiment is a slightly modified replication of the experiment in Kahnemann's 1979 paper "Prospect Theory: An Analysis of Decision under Risk". In this paper, mainly three effects were tested and theoretically explained: Certainty Effect,Isolation Effect and the Reflection Effect.
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Prospect theory and liquidation decisions
Journal of Economic Theory, 2005We solve a liquidation problem for an agent with preferences consistent with the prospect theory of Kahneman and Tversky (1978). We find that the agent is willing to hold a risky project with a relatively inferior Sharpe ratio if the project is currently making losses, and intends to liquidate it when it breaks even.
Albert Kyle, Hui Ou-Yang, Wei Xiong
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Prospects of the Theory of Prospects
Voprosy Ekonomiki, 2007The article offers a version of further development of the prospects theory fundamentals in the aspect of institutional forms creation and development model. D. Kahneman and A. Tverski’s "dimensionality of decisions and judgements" is taken as the starting point of institutional dimension formation.
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Composite Prospect Theory: A proposal to combine ‘prospect theory’ and ‘cumulative prospect theory’ [PDF]
, 2010 Evidence shows that (i) people overweight low probabilities and underweight high probabilities, but (ii) ignore events of extremely low probability and treat extremely high probability events as certain. The main alternative decision theories, rank dependent utility (RDU) and cumulative prospect theory (CP) incorporate (i) but not (ii).
Ali al-Nowaihi, Sanjit Dhami
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2010
Prospect Theory: For Risk and Ambiguity, first published in 2010, provided the first comprehensive and accessible textbook treatment of the way decisions are made both when we have the statistical probabilities associated with uncertain future events (risk) and when we lack them (ambiguity). The book presents models, primarily prospect theory, that are
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Prospect Theory: For Risk and Ambiguity, first published in 2010, provided the first comprehensive and accessible textbook treatment of the way decisions are made both when we have the statistical probabilities associated with uncertain future events (risk) and when we lack them (ambiguity). The book presents models, primarily prospect theory, that are
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Prospect Theory and market quality
Journal of Economic Theory, 2014zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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Prospect theory and SERVQUAL: [PDF]
Management, 2014 The aim of this paper is to make a scientific contribution for a better understanding of the relationship between the Prospect Theory and servqual. The first objective is to analyse whether the servqual scale is an appropriate scale to quantify service quality and customer satisfaction of automobile-insurances.
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