The correct formula of 1979 prospect theory for multiple outcomes-Reference-Cited by-同舟云学术

The correct formula of 1979 prospect theory for multiple outcomes

Published:2022-03-25 Issue:2 Volume:94 Page:183-187
ISSN:0040-5833
Container-title:Theory and Decision
language:en
Short-container-title:Theory Decis

Author:

Wakker Peter P.^ORCID

Abstract

AbstractWhereas original prospect theory was introduced over 40 years ago, its formula for multi-outcome prospects has never yet been published, resulting in many misunderstandings. This note provides that formula.

Publisher

Springer Science and Business Media LLC

Subject

Computer Science Applications,General Economics, Econometrics and Finance,General Social Sciences,Applied Psychology,Arts and Humanities (miscellaneous),Developmental and Educational Psychology,General Decision Sciences

Link

https://link.springer.com/content/pdf/10.1007/s11238-022-09885-w.pdf

Reference27 articles.

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2. Berns, G. S., Monica Capra, C., Moore, S., & Noussair, C. (2007). A shocking experiment: new evidence on probability weighting and common ratio violations. Judgm Decis Making, 2, 234–242.

3. Blake, D., Cannon, E., & Wright, D. (2021). Quantifying loss aversion: evidence from a UK population. Journal of Risk and Uncertainty, 63, 27–57.

4. Blondel, S. (2002). Testing theories of choice under risk: estimation of individual functionals. Journal of Risk and Uncertainty, 24, 251–265.

5. Camerer, C. F., & Ho, T.-H. (1994). Violations of the betweenness axiom and nonlinearity in probability. Journal of Risk and Uncertainty, 8, 167–196.

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