Violations of cumulative prospect theory in mixed gambles with moderate probabilities

被引：29

作者：

Baltussen, Guido

Post, Thierry

van Vliet, Pim

机构：

[1] Erasmus Sch Econ, NL-3000 DR Rotterdam, Netherlands

[2] Tinbergen Inst, NL-3000 DR Rotterdam, Netherlands

[3] Robeco, NL-3000 DR Rotterdam, Netherlands

来源：

MANAGEMENT SCIENCE | 2006年 / 52卷 / 08期

关键词：

cumulative prospect theory; expected utility; mixed gambles; stochastic dominance; individual decision making under risk;

D O I：

10.1287/mnsc.1050.0544

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

In a classroom choice experiment with mixed gambles and moderate probabilities, we find severe violations of cumulative prospect theory (CPT) and of Markowitz stochastic dominance. Our results shed new light on the exchange between Levy and Levy (2002) and Wakker (2003) in this journal.

引用

页码：1288 / 1290

页数：3

共 4 条

[1]

BALTUSSEN G, 2003, VIOLATIONS CPT MIXED

[2] Prospect theory: Much ado about nothing? [J].