Absolute vs. Relative Notion of Wealth Changes
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References listed on IDEAS
- Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
- Harry Markowitz, 1952. "The Utility of Wealth," Journal of Political Economy, University of Chicago Press, vol. 60, pages 151-151.
- Krzysztof Kontek, 2009. "Lottery valuation using the aspiration / relative utility function," Working Papers 39, Department of Applied Econometrics, Warsaw School of Economics.
- Richard H. Thaler, 2008. "Mental Accounting and Consumer Choice," Marketing Science, INFORMS, vol. 27(1), pages 15-25, 01-02.
- Kontek, Krzysztof, 2009. "On Mental Transformations," MPRA Paper 16516, University Library of Munich, Germany.
- Kahneman, Daniel & Tversky, Amos, 1979.
"Prospect Theory: An Analysis of Decision under Risk,"
Econometric Society, vol. 47(2), pages 263-291, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
CitationsCitations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
- Kontek, Krzysztof, 2010. "Mean, Median or Mode? A Striking Conclusion From Lottery Experiments," MPRA Paper 21758, University Library of Munich, Germany.
- Kontek, Krzysztof, 2009. "The Illusion of Irrationality," MPRA Paper 19044, University Library of Munich, Germany.
More about this item
KeywordsProspect / Cumulative Prospect Theory; Probability Weighting Function; Markowitz Hypothesis; Aspiration / Relative Utility Function / Theory; Mental Accounts; Problem Framing and Scaling; Psychophysics; Weber’s Law; Experimental Design; Lottery; Decision Making Under Risk;
- D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- D87 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Neuroeconomics
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
NEP fieldsThis paper has been announced in the following NEP Reports:
- NEP-ALL-2009-09-26 (All new papers)
- NEP-CBE-2009-09-26 (Cognitive & Behavioural Economics)
- NEP-NEU-2009-09-26 (Neuroeconomics)
- NEP-UPT-2009-09-26 (Utility Models & Prospect Theory)
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