A behavioral condition for Prelec's weighting function on the positive line without assuming \(W(1)=1\)

DOI10.1016/j.jmp.2006.10.004zbMath1132.91602OpenAlexW2025902133MaRDI QIDQ882303

R. Duncan Luce, János Aczél

Publication date: 23 May 2007

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

Full work available at URL: https://doi.org/10.1016/j.jmp.2006.10.004

zbMATH Keywords

functional equationreduction invariancedouble reduction invariancegeneralized Prelec functionutility weighting function

Mathematics Subject Classification ID

Utility theory (91B16) Functional equations for real functions (39B22) Psychophysics and psychophysiology; perception (91E30)

Related Items (9)

Behavioral assumptions for a class of utility theories: a program of experiments ⋮ Compound invariance implies prospect theory for simple prospects ⋮ A re-examination of the algebraic properties of the AHP as a ratio-scaling technique ⋮ On probabilities and loss aversion ⋮ An experimental test of reduction invariance ⋮ Subjective intensity: behavioral laws, numerical representations, and behavioral predictions in Luce's model of global psychophysics ⋮ Parametric weighting functions ⋮ Measurement by subjective estimation: Testing for separable representations ⋮ On a derivation of the Goldstein-Einhorn probability weighting functions

Cites Work

• Empirical evaluation of a model of global psychophysical judgments. IV : Forms for the weighting function
• Reduction invariance and Prelec's weighting functions
• A theory of ratio magnitude estimation
• The Probability Weighting Function
• Unnamed Item

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