Erner, Carsten; Klos, Alexander; Langer, Thomas - In: Journal of Banking & Finance 37 (2013) 6, pp. 1960-1973
Cumulative prospect theory (CPT) is widely considered to be the most successful descriptive theory for decision making under risk and uncertainty. Sophisticated methods have been developed to reliably elicit CPT parameters on an individual basis. The aim of this paper is to analyze whether such...