search query: @freeterm prospect theory / total: 10
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| Author: | Langer, T. Weber, M. |
| Title: | Prospect theory, mental accounting, and differences in aggregated and segregated evaluation of lottery portfolios |
| Journal: | Management Science
2001 : MAY, VOL. 47:5, p. 716-733 |
| Index terms: | EVALUATION LOTTERIES |
| Freeterms: | MENTAL ACCOUNTING PROSPECT THEORY |
| Language: | eng |
| Abstract: | If individuals have to evaluate a sequence of lotteries, their judgment is influenced by the presentation mode. Experimental studies have found significantly higher acceptance rates for a sequence of lotteries if the overall sidtribution was displayed instead of the set of lotteries itself. Mental accounting and loss aversion provide an easy and intuitive explanation for this phenomenon. In this paper the authors offer an explanation that incorporates further evaluation concepts of Prospect Theory. |
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