A simple derivation of Prelec's probability weighting function

DOI10.1016/j.jmp.2006.07.006zbMath1194.91082OpenAlexW3123442622MaRDI QIDQ867988

Ali al-Nowaihi, Sanjit Dhami

Publication date: 19 February 2007

Published in: Journal of Mathematical Psychology (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jmp.2006.07.006

zbMATH Keywords

prospect theorydecision making under riskreduction invariancealgebraic functional equationscompound invariancepower invariancePrelec's probability weighting functionrank dependent expected utility

Mathematics Subject Classification ID

Utility theory (91B16) Social choice (91B14)

Related Items (5)

Using logarithmic derivative functions for assessing the risky weighting function for binary gambles ⋮ Compound invariance implies prospect theory for simple prospects ⋮ On probabilities and loss aversion ⋮ Parametric weighting functions ⋮ On a derivation of the Goldstein-Einhorn probability weighting functions

Cites Work

• Advances in prospect theory: cumulative representation of uncertainty
• Reduction invariance and Prelec's weighting functions
• Prospect Theory: An Analysis of Decision under Risk
• The Probability Weighting Function
• Unnamed Item

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