Making Descriptive Use of Prospect Theory to Improve the Prescriptive Use of Expected Utility

From MaRDI portal
Publication:3114743

DOI10.1287/mnsc.47.11.1498.10248zbMath1232.91212OpenAlexW2129087050MaRDI QIDQ3114743

Peter P. Wakker, Jose Luis Pinto, Han Bleichrodt

Publication date: 19 February 2012

Published in: Management Science (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1287/mnsc.47.11.1498.10248




Related Items

Introduction to the special issue in honor of Peter WakkerDebiasing or regularisation? Two interpretations of the concept of `true preference' in behavioural economicsReconciling introspective utility with revealed preference: experimental arguments based on prospect theoryViolations of coalescing in parametric utility measurementPath dependence and biases in the even swaps decision analysis methodApplying the benchmarking procedure: A decision criterion of choice under riskConsistency of determined risk attitudes and probability weightings across different elicitation methodsA Tailor-Made Test of Intransitive ChoiceModeling uncertainty in multi-criteria decision analysisMultiple-switching behavior in choice-list elicitation of risk preferenceAll at once! A comprehensive and tractable semi-parametric method to elicit prospect theory componentsSeparating curvature and elevation: a parametric probability weighting functionWhen normative and descriptive diverge: how to bridge the differenceReconciling normative and behavioural economics: the problems to be solvedDoes probability weighting matter in probability elicitation?All over the map: A worldwide comparison of risk preferencesPROFIT SHARING IN HEDGE FUNDSRisk behavior for gain, loss, and mixed prospectsA tractable method to measure utility and loss aversion under prospect theoryReference-dependent utility with shifting reference points and incomplete preferencesFuzzy rationality and parameter elicitation in decision analysisIf nudge cannot be applied: a litmus test of the readers' stance on paternalismThe influence of probabilities on the response mode bias in utility elicitationReconciling support theory and the book-making principleAn index of loss aversionOn preference elicitation processes which mitigate the accumulation of biases in multi-criteria decision analysisEqual Tails: A Simple Method to Elicit Utility Under Violations of Expected UtilityReference-dependent expected utility with incomplete preferencesBehavioral premium principlesLoss averse behaviorChoices under ambiguity with familiar and unfamiliar outcomes