The predictive power of Cumulative Prospect Theory (CPT) and Expected Utility Theory (EUT) is typically compared using decisions from description (DfD), wherein lotteries' outcome values and probabilities are explicitly stated. In decisions from experience (DfE), individuals sample (without...

Over the past decades psychological theories have made significant headway into economics, culminating in the 2002 (partially) and 2017 Nobel prizes awarded for work in the field of Behavioural Economics. Many of the insights imported from psychology into economics share a common trait: the...