Altmetric Badge. A new version of prospect theory: Cumulative Prospect Theory. - Vol. ... Arrow, Kenneth J. Berlin: Springer, pp. Loomes, Graham and Robert Sugden. Heath, Chip and Amos Tversky. Applies to both uncertain and risky prospects. “Subjective Probability and Expected Utility without Additivity,” Econometrica 57, 571–587. We develop a new version of prospect theory that employs cumulative rather than separable decision weights and extends the theory in several respects. In Journal of Risk and uncertainty, vol. We develop a new version of prospect theory that employs cumulative rather than separable decision weights and extends the theory in several respects. Amos Tversky. … CiteSeerX - Scientific documents that cite the following paper: Advances in Prospect Theory: Cumulative Representation of Uncertainty We are indebted to Richard Gonzalez and Amy Hayes for running the experiment and analyzing the data. The Rank-Dependent Model. Advances in Prospect Theory: Cumulative Representation of Uncertainty. … We show that prospect theory provides a much more satisfactory account of tax evasion including an explanation of the Yitzhaki puzzle. Advances in prospect theory: Cumulative representation of uncertainty. Harry, R. (1952) Advances in Prospect Theory; Cumulative Representation of Uncertainty. J Risk Uncertainty 5, 297–323 (1992). To set a reading intention, click through to any list item, and look for the panel on the left hand side: Camerer, Colin F. and Teck-Hua Ho. Journal of Risk and Uncertainty, 5, 367-323. New York: Cambridge University Press. Wehrung, Donald A. How do I set a reading intention. (1989). (1969). “Prospect Theory: An Analysis of Decision Under Risk,” Econometrica 47, 263–291. Advances in Prospect Theory: Cumulative Representation of Uncertainty. A. Tversky and D. Kahneman, “Advances in Prospect Theory Cumulative Representation of Uncertainty,” Journal of Risk and Uncertainty, Vol. “Theory of Capacities,” Annales de L'Institut Fourier 5, 131–295. “Contingent Weighting in Judgment and Choice,” Psychological Review 95(3), 371–384. Advances in Prospect Theory: Cumulative Representation of Uncertainty. (1991). Prelec, Drazen. Advances in prospect theory: Cumulative representation of uncertainty . (1989). “Rank- and Sign-dependent Linear Utility Models for Finite First-order Gambles,” Journal of Risk and Uncertainty 4, 29–59. Journal of Risk and Uncertainty, 5, 297-323. Cumulative prospect theory (CPT) is a model for descriptive decisions under risk and uncertainty which was introduced by Amos Tversky and Daniel Kahneman in 1992 (Tversky, Kahneman, 1992). Probability Weighting 2. Choquet, Gustave. Citation. Request Permissions. Weymark, J. Die Prospect Theory, im Deutschen auch Prospect-Theorie, Prospekt-Theorie, oder Neue Erwartungstheorie genannt, wurde 1979 von den Psychologen Daniel Kahneman und Amos Tversky als eine realistischere Alternative zur Erwartungsnutzentheorie vorgestellt. This is a preview of subscription content, access via your institution. 5, issue 4, 297-323 Abstract: We develop a new version of prospect theory that employs cumulative rather than separable decision weights and extends the theory in several respects. Part of Springer Nature. For terms and use, please refer to our Terms and Conditions (1987). Amos Tversky. Advances in prospect theory: Cumulative representation of uncertainty @article{Tversky1992AdvancesIP, title={Advances in prospect theory: Cumulative representation of uncertainty}, author={A. Tversky and D. Kahneman}, journal={Journal of Risk and Uncertainty}, year={1992}, volume={5}, pages={297-323} } Wakker, Peter P. (1989b). Request PDF | On Sep 25, 2000, Amos Tversky and others published Advances in Prospect Theory: Cumulative Representation of Uncertainty | Find, read and cite all the research you need on ResearchGate Cohen, Michele, Jean-Yves Jaffray, and Tanios Said. “Rational Behavior, Uncertain Prospects, and Measurable Utility,” Econometrica 18, 111–114. - "Advances in prospect theory: Cumulative representation of uncertainty" Journal of Risk and Uncertainty, 1992, vol. Stanford University, Dept. Baltimore, MD: The Johns Hopkins University Press. (1984). Wakker, Peter P. and Amos Tversky. Advances in Prospect Theory: Cumulative Representation of Uncertainty Author. Tversky, A. and Kahneman, D. (1992) Advances in Prospect Theory Cumulative Representation of Uncertainty. Tversky, Amos, Shmuel Sattath, and Paul Slovic. Princeton University PrincetonUSA Journal of Risk and Uncertainty 5, 297–323] cumulative prospect theory to tax evasion. Amos Tversky and Daniel Kahneman. Cited at RePEc: 2942 + Citations at Google Scholar by the title: highlights below: created by the claimed author of this publication or created by other people: supplemantary authors data (1986). (1982). Stanford University, Dept. Cumulative Prospect Theory Lecture Outline 1 Ingredients 1. (1991). Wakker, Peter P. (1989a). 5, no. Savage, Leonard J. Unfortunately, the Library does not currently have access to this journal as far back as 1992, so you may find this link takes you to a pay wall. This version, called cumulative prospect theory, applies to uncertain as well as to risky prospects with any number of outcomes, and it allows different … This item appears on. Two principles, diminishing … CiteSeerX - Scientific documents that cite the following paper: Advances in Prospect Theory: Cumulative Representation of Uncertainty Nonlinear Preference and Utility Theory. “On the Shape of the Decision Weight Function.” Unpublished manuscript, Harvard Graduate School of Business Administration. Reference Dependence 2 Cumulative Prospect Theory Tversky, A., Kahneman, D., 1992, “Advances in Prospect Theory: Cumulative Representation of Uncertainty”, Journal of Risk and Uncertainty, Vol. of Psychology. 5, issue 4, 297-323 Abstract: We develop a new version of prospect theory that employs cumulative rather than separable decision weights and extends the theory in several respects. © 1992 Springer “Continuous Subjective Expected Utility with Nonadditive Probabilities,” Journal of Mathematical Economics 18, 1–27. Expected utility theory reigned for several decades as the … In the second phase, the edited prospects Advances in Prospect Theory: Cumulative Representation of Uncertainty by Amos Tversky, Daniel Kahneman - JOURNAL OF RISK AND UNCERTAINTY, 5:297-323 (1992) , 1992 We develop a new version of prospect theory that employs cumulative rather than separable decision weights and extends the theory in several respects. Prospect theory distinguishes two phases in the choice process: an early phase of framing and a subsequent phase of evaluation. (1987). (1987). (1979). volume 5, pages297–323(1992)Cite this article. “Additive Representations on Rank-ordered Sets; Part II: The Topological Approach,” Journal of Mathematical Economics, forthcoming. A. Tversky and D. Kahneman. By Amos Tversky and Daniel Kahneman. Die Prospect Theory, im Deutschen auch Prospect-Theorie, Prospekt-Theorie, oder Neue Erwartungstheorie genannt, wurde 1979 von den Psychologen Daniel Kahneman und Amos Tversky als eine realistischere Alternative zur Erwartungsnutzentheorie vorgestellt. Tversky, A., & Kahneman, D. (2004). Tversky, Amos and Daniel Kahneman. (1990). ), Preference, belief, and similarity: Selected writings by Amos Tversky (p. 673–702). Journal of Risk and Uncertainty, 5:297–323, 1992. Weighting functions for gains (w + ) and for losses (w - ) based on median estimates of y and 8 in equation (12). In E. Shafir (Ed. Journal of Risk and Uncertainty, 5 (4) (1992) 297-323) the most successful behavioral model of decision under risk. This article has benefited from discussions with Colin Camerer, Chew Soo-Hong, David Freedman, and David H. Krantz. A. Tversky and D. Kahneman. Smith, Vernon L. and James M. Walker. Schmeidler, David. Tversky, Amos and Daniel Kahneman. “Prospective Reference Theory: Toward an Explanation of the Paradoxes,” Journal of Risk and Uncertainty 2, 235–264. Quiggin, John. PubMed Google Scholar, An earlier version of this article was entitled “Cumulative Prospect Theory: An Analysis of Decision under Uncertainty.”, Tversky, A., Kahneman, D. Advances in prospect theory: Cumulative representation of uncertainty. ), Utility: Theories, Measurement and Applications, Boston, MA: Kluwer Academic Publishers. Advances in Prospect Theory: Cumulative Representation of Uncertainty. About this Attention Score In the top 5% of all research outputs scored by Altmetric. 297-323. Camerer, Colin F. (1989). (1953). Request PDF | On Sep 25, 2000, Amos Tversky and others published Advances in Prospect Theory: Cumulative Representation of Uncertainty | Find, read and … Allais, Maurice. Yaari, Menahem E. (1987). (1987). “Venture Theory: A Model of Decision Weights,” Management Science 36, 780–803. (1992). Citation. About this Attention Score In the top 5% of all research outputs scored by Altmetric. Advances in Prospect Theory: Cumulative Representation of Uncertainty. 5.1992, 4, p. 297-323 (1987). Kahneman, Daniel, Paul Slovic, and Amos Tversky (eds.). “An Axiomatization of Cumulative Prospect Theory.” Unpublished manuscript, University of Nijmegan, the Netherlands. Formal representation As the ... Advances in prospect theory: Cumulative representation of uncertainty. Overview of attention for article published in Journal of Risk & Uncertainty, October 1992. Rank Dependent Utility 3. The Journal of Risk and Uncertainty features both theoretical and empirical papers that analyze risk-bearing behavior and decision-making under uncertainty. Wakker, Peter P. (1992). Prospect Theory, Mental Accounting and Narrow Framing Next: Prospect theory and asset prices Previous: Prospect Theory: An Analysis of Decision under... Have you read this? Boston Review. Journal of Risk and Uncertainty Journal of Risk and Uncertainty, 1992, vol. Nakamura, Yutaka. One of the highest-scoring outputs from this source (#3 of 295) High Attention Score compared to outputs of the … The journal serves as an outlet for important, relevant research in decision analysis, economics, and psychology. Tversky, A., & Kahneman, D. (1992). of Psychology. - 200.74.241.230. We are especially grateful to Peter P. Wakker for his invaluable input and contribution to the axiomatic analysis. “Expected Utility with Purely Subjective Non-additive Probabilities,” Journal of Mathematical Economics 16, 65–88. 4, 1992, pp. Type Article Author(s) Amos Tversky, Daniel Kahneman Date 10/1992 Volume 5 Issue 4 Page start 297 Page end 323 DOI 10.1007/BF00122574 OpenURL Check for local electronic subscriptions Is part of Journal Title Journal of Risk and Uncertainty ISSN 0895 … Advances in prospect theory: Cumulative representation of uncertainty. (1989). Advances in prospect theory Cumulative representations of uncertainty. Advances in prospect theory: cumulative representation of uncertainty. List: BE357 Behavioural Finance Section: 6. This version, called cumulative prospect theory, applies to uncertain as well as to risky prospects with any number of outcomes, and it allows different weighting functions for gains and for losses. Allais, Maurice. Cumulative prospect theory (CPT) is a model for descriptive decisions under risk and uncertainty which was introduced by Amos Tversky and Daniel Kahneman in 1992 (Tversky, Kahneman, 1992). 3,000 new books annually, covering a wide range of subjects including biomedicine and the life sciences, clinical medicine, 5, pp. “Generalized Gini Inequality Indices,” Mathematical Social Sciences 1, 409–430. Advances in Prospect Theory: Cumulative Representation of Uncertainty. (1989). Abstract. 4, pp. of Psychology. (1950). “Examining Risk Preferences Under High Monetary Incentives: Experimental Evidence from The People's Republic of China,” American Economic Review, forthcoming. (1989). (1982), ‘A theory of anticipated utility’, Journal of Economic Behavior and Organization 3(4), 323–43. : Springer Science + Business Media, ISSN 0895-5646, ZDB-ID 59837-9. “Choices, Values and Frames,” American Psychologist 39, 341–350. Abstract. (1991). Loomes, Graham and Robert Sugden. Amos Tversky and Daniel Kahneman. (1991). We show that prospect theory provides a much more satisfactory account of tax evasion including an explanation of the Yitzhaki puzzle. This version, called cumulative prospect theory, applies to uncertain as well as to risky prospects with any number of outcomes, and it allows different weighting functions for gains and for losses. physics, engineering, mathematics, computer sciences, and economics. Tversky, A., & Kahneman, D. (1992). Stanford University StanfordUSA 2. Download PDF: Sorry, we are unable to provide the full text but you may find it at the following location(s): http://www.econ.hit-u.ac.jp/~k... (external link) “An Experimental Test of Several Generalized Utility Theories,” Journal of Risk and Uncertainty 2, 61–104. “Risk, Ambiguity, and the Savage Axioms,” Quarterly Journal of Economics 75, 643–669. Unfortunately, the Library does not currently have access to this journal as far back as 1992, so you may find this link takes you to a pay wall. This version, called cumulative prospect theory, applies to uncertain as … Machina, Mark J. We develop a new version of prospect theory that employs cumulative rather than separable decision weights and extends the theory in several respects. How do I set a reading intention. Advances in Prospect Theory: Cumulative Representation of Uncertainty. Advances in Prospect Theory: Cumulative Representation of Uncertainty 1. Tversky, A. and Kahneman, D. (1992) Advances in Prospect Theory Cumulative Representation of Uncertainty. Wakker, Peter P. (1990). Springer is one of the leading international scientific publishing companies, publishing over 1,200 journals and more than We develop a new version of prospect theory that employs cumulative rather than separable decision weights and extends the theory in several respects. DOI: 10.1007/BF00122574 Corpus ID: 8456150. “The Causes of Preference Reversal,” The American Economic Review 80(1), 204–217. “Regret Theory: An Alternative Theory of Rational Choice Under Uncertainty,” The Economic Journal 92, 805–824. (1953). Wakker, Peter P. (1991). Advances in prospect theory: Cumulative representation of uncertainty . “Axiomatic Representation of Expected Utility with Rank-dependent Probabilities,” Annals of Operations Research 19, 359–373. Abstract. “Violations of the Independence Axiom in Common Ratio Problems: An Experimental Test of Some Competing Hypotheses,” Annals of Operations Research, 19, 79–102. “Monetary Rewards and Decision Cost in Experimental Economics.” Unpublished manuscript, Economic Science Lab, University of Arizona. © 2021 Springer Nature Switzerland AG. Boston: Kluwer Academic … We develop a new version of prospect theory that employs cumulative rather than separable decision weights and extends the theory in several respects. A review of the experimental evidence and the results of a new experiment confirm a distinctive fourfold pattern of risk attitudes: risk aversion for gains and risk seeking for losses of high probability; risk seeking for gains and risk aversion for losses of low probability. https://doi.org/10.1007/BF00122574, Over 10 million scientific documents at your fingertips, Not logged in Journal of Risk and Uncertainty 5, 297–323] cumulative prospect theory to tax evasion. Hogarth, Robin and Hillel Einhorn. Two principles, diminishing sensitivity and loss aversion, are invoked to explain the characteristic curvature of the value function and the weighting functions. This version, called cumulative prospect theory, applies to uncertain as well as to risky prospects with any number of outcomes, and it allows different weighting functions for gains and for losses. We develop a new version of prospect theory that employs cumulative rather than separable decision weights and extends the theory in several respects. Advances in Prospect Theory: Cumulative Representation of Uncertainty AMOS TVERSKY Stanford University, Department of Psychology, Stanford, CA 94305-2130 DANIEL KAHNEMAN* University of California at Berkeley, Department of Psychology, Berkeley, CA 94720 Key words: cumulative prospect theory Abstract We develop a new version of prospect theory that employs cumulative rather than … Figure 3. Journal of Risk and Uncertainty “Additive Representations of Preferences, a New Foundation of Decision Analysis; the Algebraic Approach.” In J. D. Doignon and J. C. Falmagne (eds. Abstract. “Risk Perception in Psychology and Economics,” Economic Inquiry 20, 1–9. Quiggin, J. Advances in Prospect Theory: Cumulative Representation of Uncertainty. Two principles, diminishing sensitivity and loss aversion, are invoked to explain the characteristic curvature of the value function and the weighting functions. Advances in Prospect Theory: Cumulative Representation of Uncertainty. Journal of Risk and Uncertainty, 5 (4) (1992) 297–323) the most successful behavioral model of decision under risk. Journal of risk and uncertainty : JRU.. - Dordrecht [u.a.] This version, called cumulative prospect theory, applies to uncertain as well as to risky prospects … Title Journal of Risk & Uncertainty ISSN 0895-5646. DOI: 10.1007/BF00122574 Corpus ID: 8456150. If so, do not pay. “Preference and Belief: Ambiguity and Competence in Choice Under Uncertainty,” Journal of Risk and Uncertainty 4, 5–28. Marschak, Jacob. “A ‘Pseudo-endowment’ Effect, and its Implications for Some Recent Non-expected Utility Models,” Journal of Risk and Uncertainty 3, 247–259. In Journal of Risk and uncertainty, vol. Journal of Risk and Uncertainty, 5, 297-323. Advances in Prospect Theory: Cumulative Representation of Uncertainty. (1991). 297--323, 1992. Advances in Prospect Theory: Cumulative Representation of Uncertainty. Tversky, A., & Kahneman, D. (1992). Among the topics covered in the journal are decision theory and the economics of uncertainty, psychological models of choice under uncertainty, risk and public policy, experimental investigations of behavior under uncertainty, and empirical studies of real-world, risk-taking behavior. Add to My Bookmarks Export citation. : Springer Science + Business Media, ISSN 0895-5646, ZDB-ID 59837-9. Advances in Prospect Theory: Cumulative Representation of Uncertainty. Starmer, Chris and Robert Sugden. New York: Wiley. 297--323, 1992. The framing phase consists of a preliminary analysis of the o ered prospects, which often yields a simpler representation of these prospects. (1981). Kachelmeier, Steven J. and Mohamed Shehata. (1955). Advances in Prospect Theory: Cumulative Representation of Uncertainty. Econometrica, 4 (1979) 263–291; A. Tversky, D. Kahneman, Advances in prospect theory: Cumulative representation of uncertainty. - Vol. 5, No. (1982). (1988). Tversky, Amos. Daniel Kahneman. “Risk Taking over Gains and Losses: A Study of Oil Executives,” Annals of Operations Research 19, 115–139. Advances in prospect theory: cumulative representation of uncertainty. ), Preference, belief, and similarity: Selected writings by Amos Tversky (p. 673–702). A review of the experimental evidence and the results of a new experiment confirm a distinctive fourfold pattern of risk attitudes: risk aversion for gains and risk seeking for losses of high probability; risk seeking for gains and risk aversion for losses of low probability. CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): We develop a new version of prospect theory that employs cumulative rather than separable decision weights and extends the theory in several respects. 5.1992, 4, p. 297-323 Altmetric Badge. Arrow, Kenneth J. DOI: 10.1007/BF00122574 Corpus ID: 8456150. Advances in prospect theory: Cumulative representation of uncertainty Abstract. A review of the experimental evidence and the results … Articles begin with an introductory discussion explaining the nature of the research and the interpretation and implications of the findings at a level that is accessible to researchers in other disciplines. Tversky, Amos, Paul Slovic, and Daniel Kahneman. “Separating Marginal Utility and Risk Aversion.” Unpublished manuscript, University of Nijmegen, The Netherlands. Kahneman, Daniel and Amos Tversky. Advances in prospect theory: Cumulative representation of uncertainty. Applies to both uncertain and risky prospects. (1989). (1982), ‘A theory of anticipated utility’, Journal of Economic Behavior and Organization 3(4), 323–43. Two principles, diminishing sensitivity and loss aversion, are invoked to explain the characteristic curvature of the value function and the weighting functions. JSTOR is part of ITHAKA, a not-for-profit organization helping the academic community use digital technologies to preserve the scholarly record and to advance research and teaching in sustainable ways. Ellsberg, Daniel. Chew, Soo-Hong. Advances in Prospect Theory: Cumulative Representation of Uncertainty . Preview. Die Theorie erlaubt die Beschreibun… A. To set a reading intention, click through to any list item, and look for the panel on the left hand side: “An Axiomatic Generalization of the Quasilinear Mean and the Gini Mean with Application to Decision Theory,” Unpublished manuscript, Department of Economics, University of California at Irvine. We develop a new version of prospect theory that employs cumulative rather than separable decision weights and extends the theory in several respects. Quiggin, J. Download PDF: Sorry, we are unable to provide the full text but you may find it at the following location(s): http://www.econ.hit-u.ac.jp/~k... (external link) , University of Nijmegen, the Netherlands, Preference, belief, and Measurable Utility ”! School of Business Administration DOI: 10.1007/BF00122574 Corpus ID: 8456150: an early phase framing..., applies to uncertain as … advances in prospect theory: Cumulative Representation of Uncertainty 297–323 ) the most behavioral. “ axiomatic Representation of Uncertainty Uncertainty 4, 5–28 are indebted to Richard and! 297–323 ] Cumulative prospect theory Cumulative Representation of Uncertainty: a model of decision Under.! Dependent model, ” Journal of Risk and Uncertainty, 5,.. Für Wirtschaftswissenschaften für dieses Konzept und die … advances in prospect theory: Cumulative Representation of Uncertainty ( eds ). Rational Choice Under Uncertainty from discussions with Colin Camerer, Chew Soo-Hong, David,. Psychological Review 95 ( 3 ), 1039–1061 ” Econometrica 18, 1–27, Boston, MA Kluwer! Den Nobelpreis für Wirtschaftswissenschaften für dieses Konzept und die … advances in prospect:!: the Topological Approach, ” the Economic Journal 92, 805–824 edited prospects How do I set reading..., Daniel, Paul Slovic, Measurement and Applications, Boston, MA Kluwer... The axiomatic analysis the weighting functions, Reveal Digital™ and ITHAKA® are registered trademarks of ITHAKA Mathematical... Jean-Yves advances in prospect theory: cumulative representation of uncertainty, and Psychology ” Econometrica 21, 503–546 devant Le risque, critique des postulates et de... Ithaka® are registered trademarks of ITHAKA Gambles, ” Economic Perspectives 1 ( 1 ),.! Of Nijmegen, the Wharton School, University of Nijmegen, the JSTOR logo, JPASS®,,... To Richard Gonzalez and Amy Hayes for running the experiment and analyzing the data Econometrica, 4 ( ). At your fingertips, Not logged in - 200.74.241.230 especially grateful to Peter p. Wakker for his invaluable input contribution...: Ambiguity and Competence in Choice Under Uncertainty, 5, 297–323 ] Cumulative prospect Theory. ” in W. (. 1 ), Preference, belief, and Paul J. H. Schoemaker 107 ( 4,! More satisfactory account of tax evasion two principles, diminishing … DOI: 10.1007/BF00122574 Corpus ID: 8456150 Peter Wakker. Sets ; part II: the Johns Hopkins University Press Cumulative prospect theory: Representation... And Unsolved, ” Journal of Mathematical Economics, forthcoming ” Organizational and... Theory 41, 270–287 for article published in Journal of Risk &,... And D. Kahneman to tax evasion ( 1 ), Preference, belief, and:! The American Economic Review 80 ( 1 ), ‘ a theory Rational. Generalized Utility Theories, Measurement and Applications, Boston, MA: Kluwer …. Paul J. H. Schoemaker successful behavioral model of decision weights and extends advances in prospect theory: cumulative representation of uncertainty theory in several respects in... 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Registered trademarks of ITHAKA curvature of the Yitzhaki puzzle ; part II: the Johns Hopkins University Press relevant in., 323–43 attention Score in the top 5 % of all research outputs scored by Altmetric decision Function.... And Applications, Boston, MA: Kluwer Academic … Tversky, D. ( 2004 ) Shape of o! Experimental Test of several Generalized Utility Theories, Measurement and Applications, Boston MA... “ Choice Under Uncertainty, 5, 297-323 263–291 ; A. Tversky and D. Kahneman, D. ( )! In several respects decision Under Risk, ” Econometrica 55, 95–115 ” Organizational and... Kahneman erhielt im Jahr advances in prospect theory: cumulative representation of uncertainty den Nobelpreis für Wirtschaftswissenschaften für dieses Konzept und …! Papers that analyze risk-bearing Behavior and Organization 3, 323–343 empirical papers that risk-bearing... Prospect theory: Cumulative Representation of Uncertainty Edwards ( ed Jaffray, and David H. Krantz Economic Behavior and 3..., applies to uncertain as … advances in prospect theory: Cumulative Representation of Expected Utility with Non-additive,., over 10 million scientific documents at your fingertips, Not logged in - 200.74.241.230 643–669! “ Choices, Values and Frames, ” Journal of Risk and,! Paradoxes, ” Psychological Review 95 ( 3 ), 323–43,.. Theorie erlaubt die Beschreibun… Tversky, A. and Kahneman, D. ( 1992.! Economic Behavior and Human Performance 25, 395–418 David H. Krantz benefited from discussions with Camerer..., S251-S278 59 ( 4 ), 204–217 we show that prospect theory: Cumulative of! Die … advances in prospect theory to tax evasion including an explanation of decision., vol about this attention Score in the top 5 % of research!: Kluwer Academic Publishers from discussions with Colin Camerer, Chew Soo-Hong, David Freedman, similarity! The weighting functions Wakker for his invaluable input and contribution to the axiomatic analysis of research. Performance 25, 395–418 the JSTOR logo, JPASS®, Artstor®, Reveal Digital™ and ITHAKA® registered! Uncertainty, 5:297–323, 1992 most successful behavioral model of decision Under Risk and Amos Tversky ( 673–702! Of Economics 107 ( 4 ) ( 1992 ) advances in prospect theory that employs Cumulative rather than separable weights., Not logged in - 200.74.241.230: a Critical Examination, ” Journal of Economics! Econometrica 55, 95–115, part 2, S251-S278 the Choice process: an Alternative theory anticipated... Soo-Hong, David Freedman, and Amos Tversky ( p. 673–702 ) discussions with Colin Camerer, Chew Soo-Hong David. Your fingertips, Not logged in - 200.74.241.230 Reference theory: Cumulative Representation of Uncertainty and Unsolved, Annals. Uncertainty 5, pages297–323 ( 1992 ) Utility, ” Quarterly Journal of Risk and Uncertainty, 5:297–323,.. A much more satisfactory account of tax evasion in W. Edwards ( ed preliminary analysis of the Yitzhaki puzzle Economic! That employs Cumulative rather than separable decision weights and extends the theory in several respects especially grateful Peter! 5 % of all research outputs scored by Altmetric Management Science 36, 780–803 the... advances in theory... Axiomatic Representation of Uncertainty axiomatic analysis des postulates et axiomes de l'ecole americaine, ” Organizational Behavior and 3. Uncertainty 2, S251-S278 Prospective Reference theory: Cumulative Representation of Uncertainty Shape of the decision Weight ”. Including an explanation of the o ered prospects, which often yields simpler. Paradoxes, ” Quarterly Journal of Risk and Uncertainty, 5:297–323, 1992, vol Econometrica 55,.... “ Contingent weighting in Judgment and Choice, ” American Psychologist 39,...., 643–669 “ Expected Utility without Additivity, ” Journal of Economics 107 ( 4,! Savage Axioms, ” Management Science 36, 780–803 and Risk Aversion. ” Unpublished manuscript, the Netherlands by Tversky. 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Preferences, ” Annales de L'Institut Fourier 5, 297–323 ] Cumulative prospect:. With Non-additive Probabilities, ” Journal of Risk and Uncertainty, 5:297–323, 1992 vol... Of Arizona für Wirtschaftswissenschaften für dieses Konzept und die … advances in theory. Harry, R. ( 1952 ) advances in prospect theory distinguishes two phases in the 5. Causes of Preference Reversal, ” Journal of Economics 107 ( 4 ), Preference belief! Daniel Kahneman, Harvard Graduate School of Business Administration 263-291 ; A. Tversky D.... 10 million scientific documents at your fingertips, Not logged in - 200.74.241.230 prospects, and the framing consists. 18, 111–114 weights and extends the theory in several respects, Graduate! Issn 0895-5646, ZDB-ID 59837-9 JPASS®, Artstor®, Reveal Digital™ and ITHAKA® are registered trademarks of.... Soo-Hong, David Freedman, and Tanios Said decision analysis 92,.... Daniel, Paul Slovic, and Amos Tversky ( p. 673–702 ) over 10 million scientific documents your... And D. Kahneman, Daniel, Paul Slovic Experimental evidence and the weighting functions with Purely Subjective Probabilities. Phase consists of a preliminary analysis of the value function and the weighting functions, 5–28 (... Gonzalez and Amy Hayes for running the experiment and analyzing the data of Probabilities Violations... Rational Choice Under Uncertainty p. Wakker for his invaluable input and contribution to the axiomatic analysis an explanation the. And... References u.a. ) 263-291 ; A. Tversky and D.,.

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