this study is to determine the optimal design of these financial assets (under cumulative prospect theory (CPT) framework …

prospect theory. Given any opportunity set, a unique reference level can be identified which is consistent with CUT and which … accommodates nonlinear preferences (in probabilities) without invoking the probability-transformation assumption of cumulative …

The paper relates cumulative prospect theory to the moments of returns distributions, e.g. skewness and kurtosis … forth-order moments, making the investigation straightforward. Cumulative prospect theory utility is found to be positively … findings, among others, suggest that optimal cumulative prospect theory portfolios are not meanvariance efficient under the …

circumstances, this theory is not descriptively valid. The most promising alternative, cumulative prospect theory, is then presented … prospect theory either, so that a model which would explain all evidence on decisions under risk is still to be found. … above evidence. It is pointed out that there are other empirical observations which cannot be explained by cumulative …

It is well-known that expected utility (EU) has empirical deficiencies. Cumulative prospect theory (CPT) has developed …

In the paper we analyze the iterativity condition for zero utility principle adjusted to Cumulative Prospect Theory. We …

combination of an influence diagram and a decision tree to model the decision situation; 3) the cumulative prospect theory as an …

perceptions of gains and losses were modelled using cumulative prospect theory (CPT). The parameters of the value function and the …

Cumulative prospect theory (CPT) is widely considered to be the most successful descriptive theory for decision making …