Econometrica Vol. 66 No. 3 1998
The Probability Weighting Function
Abstract
A probability weighting function w(p) is a prominent feature of several nonexpected utility theories, including prospect theory and rank-dependent models. Empirical estimates indicate that w(p) is regressive with respect to the diagonal (w(p) > p for small p, and w(p)
- DOI
- 10.2307/2998573
- Volume
- 66
- Issue
- 3
- Pages
- 497
- Sources
- crossref openalex bibtex:phds-export.bib