Work

Prospect Theory and the Wisdom of the Inner Crowd

Year: 2017

Type: preprint

Abstract: We give a probabilistic justification of the shape of one of the probability weighting functions used in Prospect Theory. To do so, we use an idea recently introduced by Herzog and Hertwig (2014). Along the way we also suggest a new method for the aggregation of probabilities using statistical distances.

Source: PhilSci-Archive (University of Pittsburgh)

DOI: 10.5282/ubm/epub.41936

Author: Hartmann, Stephan

Language: English

Topic: Decision-Making and Behavioral Economics

Subfield: General Decision Sciences

Field: Decision Sciences

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2736634738

Cites: 3

Cited by: 1

Related to: 10