Peel, D and Zhang, J (2009) The expo-power value function as a candidate for the work-horse specification in parametric versions of cumulative prospect theory. Economics Letters, 105 (3). pp. 326-329. ISSN 0165-1765
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Official URL: https://doi.org/10.1016/j.econlet.2009.09.007
Abstract
The piecewise power value function proposed by Kahneman and Tversky is inconsistent with both theoretical and experimental work. We propose the expo-power function as an alternative to the power function and examine its ability to explain choices in Allais experiments.
Item Type:
Journal Article
Journal or Publication Title:
Economics Letters
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/2000/2002
Subjects:
?? FINANCEECONOMICS AND ECONOMETRICS ??
Departments:
ID Code:
45565
Deposited By:
Deposited On:
11 Jul 2011 18:34
Refereed?:
No
Published?:
Published
Last Modified:
22 Sep 2023 00:12