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| Author: | Bleichrodt, H. Pinto, J. L. |
| Title: | A parameter-free elicitation of the probability weighting function in medical decision analysis |
| Journal: | Management Science
2000 : NOV, VOL. 46:11, p. 1485-1496 |
| Index terms: | DECISION MAKING MEDICINE PROBABILITY UTILITY ASSESSMENT UTILITY THEORY |
| Language: | eng |
| Abstract: | This study presents a method to elicit the probability weighting function in rank-dependent expected utility theory that makes no prior assumptions about the functional form of the probability weightinh function. The authors use both aggregate and individual subject data, thereby allowing for heterogeneity of individual preferences, and they examine probability weighting in a new domain, medical decision making. |
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