Original and cumulative prospect theory: a discussion of empirical differences
| Authors |
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| Publication date |
1997
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| Journal |
Journal of Behavioral Decision Making
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| Volume | Issue number |
10 | 10
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| Pages (from-to) |
53-64
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| Organisations |
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Faculty of Economics and Business (FEB) - Amsterdam School of Economics Research Institute (ASE-RI)
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| Abstract |
This note discusses differences between prospect theory and cumulative prospect theory. It shows that cumulative prospect theory is not merely a formal correction of some theoretical problems in prospect theory, but it also gives different predictions. Experiments are described that favor cumulative prospect theory.
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| Document type |
Article
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| Published at |
https://doi.org/10.1002/(SICI)1099-0771(199703)10:1<53::AID-BDM245>3.0.CO;2-1
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