Zervoudi, Evanthia K. - In: International Journal of Applied Behavioral Economics … 6 (2017) 2, pp. 1-22
The main aim of this paper is to empirically evaluate the role of three significant factors of the Prospect Theory: the S-shaped value function, the loss aversion, and the distortion of probability, in decision making. In order to do this, a general behavioral reward-risk model is firstly setup...