A genuine foundation for prospect theory

Autor:	Ulrich Schmidt, Horst Zank
Rok vydání:	2012
Předmět:	Economics and Econometrics Prospect theory Accounting A priori and a posteriori Foundation (evidence) Mathematical economics Finance Mathematics
Zdroj:	Journal of Risk and Uncertainty. 45:97-113
ISSN:	1573-0476 0895-5646
DOI:	10.1007/s11166-012-9150-8
Popis:	In most models of (cumulative) prospect theory, reference dependence of preferences is imposed beforehand and the location of the reference point is determined exogenously. This paper presents principles that provide critical tests and foundations for prospect theory preferences without assuming reference-dependent preferences a priori. Instead, reference dependence is derived from behavior and the reference point arises endogenously.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::fc551b02ccf44adcb5ed93eba2fb1b88 https://doi.org/10.1007/s11166-012-9150-8 Zobrazit plný text záznamu Plný text ve formátu PDF