search query: @freeterm prospect theory / total: 10
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| Author: | Levy, M. Levy, H. |
| Title: | Prospect theory: much ado about nothing? |
| Journal: | Management Science
2002 : OCT, VOL. 48:10, p. 1334-1349 |
| Index terms: | Stochastic processes Utility theory |
| Freeterms: | Prospect theory |
| Language: | eng |
| Abstract: | Prospect theory is a paradigm challenging the expected utility paradigm. The authors of this article conduct an experiment study with mixed prospects, using, for the first time, recently developed investment criteria called Prospect Stochastic Dominance (PSD) and Markowitz Stochastic Dominance (MSD). They reject the S-shaped value function, showing that at least 62%-76% of the subjects cannot be characterized by such preferences. |
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