Prospect Theory for Continuous Distributions

We extend the original form of Prospect Theory by Kahneman and Tversky from finite lotteries to arbitrary probability distributions, thus paving the way for applications in economics and finance. Moreover, we suggest a method how to incorporate a crucial step of the quot;editing phasequot; into Prospect Theory and to remove in this way the discontinuity of the original model

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Year of publication:	[2008]
Authors:	Rieger, Marc Oliver
Other Persons:	Wang, Mei (contributor)
Publisher:	[2008]: [S.l.] : SSRN
Description of contents:	Abstract [papers.ssrn.com]

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Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Notes:	In: Swiss Finance Institute Research Paper No. 07-30 Volltext nicht verfügbar
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012773330