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An Axiomatization of Cumulative Prospect Theory for Decision under Risk

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Cited by:

  1. Thomas F Epper & Helga Fehr-Duda, 2024. "RISK IN TIME: The Intertwined Nature of Risk Taking and Time Discounting," Post-Print hal-03473431, HAL.
  2. Wang, Hsiao-Fan & Hsu, Fei-Chen, 2009. "An integrated operation module for individual risk management," European Journal of Operational Research, Elsevier, vol. 198(2), pages 610-617, October.
  3. Dorian Jullien, 2016. "Under Uncertainty, Over Time and Regarding Other People: Rationality in 3D," GREDEG Working Papers 2016-20, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
  4. Dorian Jullien & Alexandre Truc, 2024. "Towards a history of behavioural and experimental economics in France," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 31(6), pages 998-1033, November.
  5. Dino Borie, 2016. "Additively Separable Preferences Without the Completeness Axiom: An Algebraic Approach," GREDEG Working Papers 2016-11, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
  6. Honda, Edward, 2022. "Expected utility with threshold disappointment sensitivity," Economics Letters, Elsevier, vol. 213(C).
  7. Toritseju Begho & Kelvin Balcombe, 2023. "Attitudes to Risk and Uncertainty: New Insights From an Experiment Using Interval Prospects," SAGE Open, , vol. 13(3), pages 21582440231, July.
  8. Alexander L. Brown & Taisuke Imai & Ferdinand M. Vieider & Colin F. Camerer, 2024. "Meta-analysis of Empirical Estimates of Loss Aversion," Journal of Economic Literature, American Economic Association, vol. 62(2), pages 485-516, June.
  9. Raphaël Giraud, 2004. "Framing under risk: Endogenizing the Reference Point and Separating Cognition and Decision," Cahiers de la Maison des Sciences Economiques bla04090, Université Panthéon-Sorbonne (Paris 1).
  10. Marcello Basili & Stefano Dalle Mura, 2004. "Ambiguity and macroeconomics:a rationale for price stickiness," Department of Economics University of Siena 428, Department of Economics, University of Siena.
  11. Soham R. Phade & Venkat Anantharam, 2021. "Mechanism Design for Cumulative Prospect Theoretic Agents: A General Framework and the Revelation Principle," Papers 2101.08722, arXiv.org.
  12. Bastianello, Lorenzo & Chateauneuf, Alain & Cornet, Bernard, 2024. "Gain–loss hedging and cumulative prospect theory," Mathematical Social Sciences, Elsevier, vol. 131(C), pages 40-47.
  13. Schmidt, Ulrich & Zank, Horst, 2009. "A simple model of cumulative prospect theory," Journal of Mathematical Economics, Elsevier, vol. 45(3-4), pages 308-319, March.
  14. Marcello Basili & Alain Chateauneuf & Fulvio Fontini, 2005. "Choices Under Ambiguity With Familiar And Unfamiliar Outcomes," Theory and Decision, Springer, vol. 58(2), pages 195-207, March.
  15. Marcos Escobar-Anel & Andreas Lichtenstern & Rudi Zagst, 2020. "Behavioral portfolio insurance strategies," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 34(4), pages 353-399, December.
  16. Ulrich Schmidt & Horst Zank, 2008. "Risk Aversion in Cumulative Prospect Theory," Management Science, INFORMS, vol. 54(1), pages 208-216, January.
  17. Glenn W. Harrison & J. Todd Swarthout, 2023. "Cumulative Prospect Theory in the Laboratory: A Reconsideration," Research in Experimental Economics, in: Models of Risk Preferences: Descriptive and Normative Challenges, volume 22, pages 107-192, Emerald Group Publishing Limited.
  18. Peter Brooks & Simon Peters & Horst Zank, 2014. "Risk behavior for gain, loss, and mixed prospects," Theory and Decision, Springer, vol. 77(2), pages 153-182, August.
  19. Jona Linde & Joep Sonnemans, 2012. "Social comparison and risky choices," Journal of Risk and Uncertainty, Springer, vol. 44(1), pages 45-72, February.
  20. Lanzi, Diego, 2011. "Frames as choice superstructures," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(2), pages 115-123, April.
  21. Ido Erev & Ira Glozman & Ralph Hertwig, 2008. "What impacts the impact of rare events," Journal of Risk and Uncertainty, Springer, vol. 36(2), pages 153-177, April.
  22. Tuthill, Jonathan W. & Frechette, Darren L., 2002. "Non-Expected Utility Theories: Weighted Expected, Rank Dependent, And Cumulative Prospect Theory Utility," 2002 Conference, April 22-23, 2002, St. Louis, Missouri 19073, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
  23. Katarzyna Werner & Horst Zank, 2012. "Foundations for Prospect Theory Through Probability Midpoint Consistency," Economics Discussion Paper Series 1210, Economics, The University of Manchester.
  24. Balcombe, Kelvin & Bardsley, Nicholas & Dadzie, Sam & Fraser, Iain, 2019. "Estimating parametric loss aversion with prospect theory: Recognising and dealing with size dependence," Journal of Economic Behavior & Organization, Elsevier, vol. 162(C), pages 106-119.
  25. Katarzyna M. Werner & Horst Zank, 2019. "A revealed reference point for prospect theory," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(4), pages 731-773, June.
  26. Horst Zank, 2007. "On the Paradigm of Loss Aversion," Economics Discussion Paper Series 0710, Economics, The University of Manchester.
  27. Horst Zank, 2007. "Social welfare functions with a reference income," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 28(4), pages 609-636, June.
  28. Mohammed Abdellaoui & Horst Zank, 2023. "Source and rank-dependent utility," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(4), pages 949-981, May.
  29. Grechuk, Bogdan & Zabarankin, Michael, 2014. "Risk averse decision making under catastrophic risk," European Journal of Operational Research, Elsevier, vol. 239(1), pages 166-176.
  30. Tsoukias, Alexis, 2008. "From decision theory to decision aiding methodology," European Journal of Operational Research, Elsevier, vol. 187(1), pages 138-161, May.
  31. Josheski Dushko & Apostolov Mico, 2023. "The Prospect Theory and First Price Auctions: an Explanation of Overbidding," Econometrics. Advances in Applied Data Analysis, Sciendo, vol. 27(1), pages 33-74, March.
  32. Ulrich Schmidt & Horst Zank, 2012. "A genuine foundation for prospect theory," Journal of Risk and Uncertainty, Springer, vol. 45(2), pages 97-113, October.
  33. repec:dau:papers:123456789/3480 is not listed on IDEAS
  34. L'Haridon, Olivier, 2009. "Behavior in the loss domain: An experiment using the probability trade-off consistency condition," Journal of Economic Psychology, Elsevier, vol. 30(4), pages 540-551, August.
  35. Laurent Denant-Boemont & Olivier L’Haridon, 2013. "La rationalité à l'épreuve de l'économie comportementale," Revue française d'économie, Presses de Sciences-Po, vol. 0(2), pages 35-89.
  36. Schmidt, Ulrich & Zank, Horst, 2010. "Endogenizing prospect theory's reference point," Kiel Working Papers 1611, Kiel Institute for the World Economy (IfW Kiel).
  37. Lorenzo Bastianello & Alain Chateauneuf & Bernard Cornet, 2025. "Gain-Loss Hedging and Cumulative Prospect Theory," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202511, University of Kansas, Department of Economics.
  38. Soham R. Phade & Venkat Anantharam, 2019. "On the Geometry of Nash and Correlated Equilibria with Cumulative Prospect Theoretic Preferences," Decision Analysis, INFORMS, vol. 16(2), pages 142-156, June.
  39. Mohammed Abdellaoui & Han Bleichrodt & Enrico Diecidue & Horst Zank, 2022. "Introduction to the Special Issue in Honor of Peter Wakker," Theory and Decision, Springer, vol. 92(3), pages 433-444, April.
  40. Birnbaum, Michael H., 2004. "Tests of rank-dependent utility and cumulative prospect theory in gambles represented by natural frequencies: Effects of format, event framing, and branch splitting," Organizational Behavior and Human Decision Processes, Elsevier, vol. 95(1), pages 40-65, September.
  41. Karni, Edi & Maccheroni, Fabio & Marinacci, Massimo, 2015. "Ambiguity and Nonexpected Utility," Handbook of Game Theory with Economic Applications,, Elsevier.
  42. Peter Brooks & Horst Zank, 2005. "Loss Averse Behavior," Journal of Risk and Uncertainty, Springer, vol. 31(3), pages 301-325, December.
  43. Amit Kothiyal & Vitalie Spinu & Peter Wakker, 2011. "Prospect theory for continuous distributions: A preference foundation," Journal of Risk and Uncertainty, Springer, vol. 42(3), pages 195-210, June.
  44. Denuit Michel & Dhaene Jan & Goovaerts Marc & Kaas Rob & Laeven Roger, 2006. "Risk measurement with equivalent utility principles," Statistics & Risk Modeling, De Gruyter, vol. 24(1), pages 1-25, July.
  45. Valerie Seror, 2008. "Fitting observed and theoretical choices – women's choices about prenatal diagnosis of Down syndrome," Health Economics, John Wiley & Sons, Ltd., vol. 17(5), pages 557-577, May.
  46. Veronika Köbberling & Peter P. Wakker, 2003. "Preference Foundations for Nonexpected Utility: A Generalized and Simplified Technique," Mathematics of Operations Research, INFORMS, vol. 28(3), pages 395-423, August.
  47. P Brooks & H Zank, 2004. "Attitudes on Gain and Loss Lotteries: A Simple Experiment," Economics Discussion Paper Series 0402, Economics, The University of Manchester.
  48. González-Jiménez, Víctor, 2024. "Incentive design for reference-dependent preferences," Journal of Economic Behavior & Organization, Elsevier, vol. 221(C), pages 493-518.
  49. Bernard, Carole & Chen, Jit Seng & Vanduffel, Steven, 2015. "Rationalizing investors’ choices," Journal of Mathematical Economics, Elsevier, vol. 59(C), pages 10-23.
  50. Marcello Basili & Stefano Dalle Mura, 2008. "Ambiguous Money Distribution And The Price Stickiness Phenomenon: A Rationale From An Ambiguous Rational Expectations Approach," Department of Economic Policy, Finance and Development (DEPFID) University of Siena 0708, Department of Economic Policy, Finance and Development (DEPFID), University of Siena.
  51. Heilpern, S., 2003. "A rank-dependent generalization of zero utility principle," Insurance: Mathematics and Economics, Elsevier, vol. 33(1), pages 67-73, August.
  52. Kobi Kriesler & Shmuel Nitzan, 2009. "Framing-based Choice: A Model of Decision-making Under Risk," Korean Economic Review, Korean Economic Association, vol. 25, pages 65-89.
  53. repec:dau:papers:123456789/3479 is not listed on IDEAS
  54. Rosella Castellano & Roy Cerqueti, 2013. "Roots and effects of financial misperception in a stochastic dominance framework," Quality & Quantity: International Journal of Methodology, Springer, vol. 47(6), pages 3371-3389, October.
  55. Horst Zank, 2010. "On probabilities and loss aversion," Theory and Decision, Springer, vol. 68(3), pages 243-261, March.
  56. Liang Zou, 2006. "An Alternative to Prospect Theory," Annals of Economics and Finance, Society for AEF, vol. 7(1), pages 1-28, May.
  57. Efe A. Ok & Pietro Ortoleva & Gil Riella, 2015. "Revealed (P)Reference Theory," American Economic Review, American Economic Association, vol. 105(1), pages 299-321, January.
  58. Kobberling, Veronika & Wakker, Peter P., 2005. "An index of loss aversion," Journal of Economic Theory, Elsevier, vol. 122(1), pages 119-131, May.
  59. Schmidt, Ulrich & Zank, Horst, 2001. "A new axiomatization of rank-dependent expected utility with tradeoff consistency for equally likely outcomes," Journal of Mathematical Economics, Elsevier, vol. 35(4), pages 483-491, July.
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