Problem Definition: Project managers are responsible for setting and then revising projects' goals. As uncertainty related to project performance is resolved, a project manager is tasked with comparing ongoing costs, and potentially achieved scope, to a baseline plan. We question whether project...

Rank dependent probability weighting---an integral part of cumulative prospect theory---has come to dominate the behavioral modeling of risk preferences in non-strategic settings over the last 40 years. We draw attention to some serious limitations of rank dependence when it comes to...