It is whether you win or lose: the importance of the overall probabilities of winning or losing in risky choice

DOI10.1007/s11166-005-5831-xzbMath1090.91515OpenAlexW2130660756MaRDI QIDQ1777424

John W. Payne

Publication date: 13 May 2005

Published in: Journal of Risk and Uncertainty (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/s11166-005-5831-x

zbMATH Keywords

preferencedecisionrisk

Mathematics Subject Classification ID

Related Items (13)

Violations of coalescing in parametric utility measurement ⋮ Portfolio choice in the model of expected utility with a safety-first component ⋮ Risk pricing in a non-expected utility framework ⋮ A quantum-like model of selection behavior ⋮ Loss aversion with multiple investment goals ⋮ An axiomatic account of status quo-dependent non-expected utility: pragmatic constraints on rational choice under risk ⋮ Half-full or half-empty? A model of decision making under risk ⋮ Why does myopia decrease the willingness to invest? Is it myopic loss aversion or myopic loss probability aversion? ⋮ Risk behavior for gain, loss, and mixed prospects ⋮ Rethinking risk attitude: Aspiration as pure risk ⋮ Fearing the worst: the importance of uncertainty for inequality ⋮ An inter-temporal CAPM based on first order stochastic dominance ⋮ Loss averse behavior

Cites Work

• An axiomatic theory of conjoint, expected risk
• Advances in prospect theory: cumulative representation of uncertainty
• The role of aspiration level in risky choice: A comparison of cumulative prospect theory and SP/A theory
• On the intuition of rank-dependent utility
• The effects of financial incentives in experiments: A review and capital-labor-production framework. (With commentaries)
• Prospect Theory: Much Ado About Nothing?
• Prospect Theory: An Analysis of Decision under Risk
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