Testing prospect theories using probability tradeoff consistency

DOI10.1007/S11166-005-6561-9MaRDI QIDQ813044zbMATH OpenOpenAlexFDO

Authors George Wu, Jiao Zhang, Mohammed Abdellaoui

Publication date 30 January 2006

Published in Journal of Risk and Uncertainty (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s11166-005-6561-9

zbMATH Keywords

decision under riskprobability weighting function

Mathematics Subject Classification ID

Decision theory (91B06) Probabilistic games; gambling (91A60)

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• scientific article; zbMATH DE number 3850774
• A further examination of cumulative prospect theory parameterizations

Cites work

• scientific article; zbMATH DE number 41812 (Why is no real title available?)
• "Expected Utility" Analysis without the Independence Axiom
• A Genuine Rank-Dependent Generalization of the Von Neumann-Morgenstern Expected Utility Theorem
• Advances in prospect theory: cumulative representation of uncertainty
• An axiomatization of cumulative prospect theory
• An empirical test of gain-loss separability in prospect theory
• Choice by elimination
• Coalescing, event commutativity, and theories of utility
• Common consequence conditions in decision making under risk
• Curvature of the Probability Weighting Function
• Cycling with rules of thumb: An experimental test for a new form of non-transitive behaviour
• Myopic Loss Aversion and the Equity Premium Puzzle
• Parameter-Free Elicitation of Utility and Probability Weighting Functions
• Prospect Theory: An Analysis of Decision under Risk
• Prospect theory: much ado about nothing?
• Subjective Probability and Expected Utility without Additivity
• The Probability Weighting Function
• The data of Levy and Levy (2002) ``Prospect theory: much ado about nothing? actually support prospect theory
• The risk-structure dependence effect: Experimenting with an eye to decision-aiding
• Violations of the betweenness axiom and nonlinearity in probability

Cited in

(16)

• On probabilities and loss aversion
• Testing strictly concave rationality
• Prospect and Markowitz stochastic dominance
• Composition rules in original and cumulative prospect theory
• Eliciting decision weights by adapting de Finetti's betting-odds method to prospect theory
• Third-generation prospect theory
• Measuring the time stability of prospect theory preferences
• A further critique of cumulative prospect theory and related approaches
• On the Empirical Validity of Cumulative Prospect Theory: Experimental Evidence of Rank‐Independent Probability Weighting
• Rationality testing under asymmetric loss
• Prospect theory for continuous distributions
• Half-full or half-empty? A model of decision making under risk
• The correct formula of 1979 prospect theory for multiple outcomes
• Randomized strategies and prospect theory in a dynamic context
• Violations of cumulative prospect theory in mixed gambles with moderate probabilities
• Mixture independence foundations for expected utility

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