A closer look at the Russian roulette problem: a re-examination of the nonlinearity of the prospect theory's decision weight

<a class="pub-badge pub-badge--doi" href="https://doi.org/10.1016/J.IJAR.2008.10.004" rel="nofollow">DOI 10.1016/J.IJAR.2008.10.004</a><a class="pub-badge pub-badge--grey" href="https://zbmath.org/1186.91068" rel="nofollow">zbMATH</a><a class="pub-badge pub-badge--grey" href="https://dblp.org/rec/journals/ijar/LiHLXR09" rel="nofollow">DBLP</a><a class="pub-badge pub-badge--grey" href="https://openalex.org/works/W2086737707" rel="nofollow">OpenAlex</a><a class="pub-badge pub-badge--grey" href="https://www.wikidata.org/wiki/Q58364670" rel="nofollow"><img src="https://www.wikidata.org/static/favicon/wikidata.ico" class="pub-badge-icon" alt=""/>Wikidata</a><a class="pub-badge pub-badge--mardi" href="https://portal.mardi4nfdi.de/wiki/Item:Q962872" rel="nofollow">MaRDI QID Q962872</a><a class="pub-badge pub-badge--grey" href="https://fdo.portal.mardi4nfdi.de/fdo/Q962872" rel="nofollow">FDO</a>

Authors Li-Bo Li, Shuhong He, Shu Li, Jie-Hong Xu, Li-Lin Rao

Publication date 7 April 2010

Published in International Journal of Approximate Reasoning (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.ijar.2008.10.004

zbMATH Keywords

1979 version of prospect theory1992 version of prospect theorydecision weight \(\pi \)decision weight \(w\)Russian roulette problem

Mathematics Subject Classification ID

Decision theory (91B06) Utility theory (91B16)

Recommendations

• Curvature of the Probability Weighting Function
• Advances in prospect theory: cumulative representation of uncertainty
• Nonlinear Decision Weights in Choice Under Uncertainty
• The Probability Weighting Function
• Lottery decisions and probability weighting function

Cites work

• A behavioral choice model when computational ability matters
• A further critique of cumulative prospect theory and related approaches
• A further examination of cumulative prospect theory parameterizations
• Advances in prospect theory: cumulative representation of uncertainty
• Arrow-Pratt risk aversion, risk premium and decision weights
• Curvature of the Probability Weighting Function
• Exposition of a New Theory on the Measurement of Risk
• Generalized similarity judgements: An alternative explanation for choice anomalies
• Le Comportement de l'Homme Rationnel devant le Risque: Critique des Postulats et Axiomes de l'Ecole Americaine
• Prospect Theory: An Analysis of Decision under Risk
• Similarity and decision-making under risk (Is there a utility theory resolution to the Allais paradox?)

Cited in

(1)

• Extreme events and entropy: a multiple quantile utility model

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