cumulative prospect theory

URI: https://gptkb.org/entity/cumulative_prospect_theory
GPTKB entity
Statements (31)
Predicate Object
gptkbp:instanceOf gptkb:behavioral_economics_theory
gptkbp:application gptkb:insurance
gptkb:public_policy
finance
marketing
gptkbp:citation Tversky, A. & Kahneman, D. (1992). Advances in prospect theory: Cumulative representation of uncertainty. Journal of Risk and Uncertainty, 5(4), 297-323.
gptkbp:contrastsWith expected utility theory
gptkbp:describes decision making under risk
gptkbp:feature gptkb:loss_aversion
diminishing sensitivity
probability weighting
reference dependence
cumulative weighting of probabilities
gptkbp:field behavioral economics
psychology
gptkbp:form value function and weighting function
gptkbp:influencedBy gptkb:prospect_theory_(1979)
gptkbp:predecessor prospect theory
gptkbp:probabilityWeightingFunction overweights small probabilities
underweights large probabilities
gptkbp:proposedBy gptkb:Amos_Tversky
gptkb:Daniel_Kahneman
gptkbp:publishedIn gptkb:Journal_of_Risk_and_Uncertainty
gptkbp:valueFunctionLossAversion steeper for losses than gains
gptkbp:valueFunctionReferencePoint reference point
gptkbp:valueFunctionShape S-shaped
gptkbp:yearProposed 1992
gptkbp:bfsParent gptkb:Amos_Tversky
gptkb:Prospect_Theory
gptkbp:bfsLayer 5
https://www.w3.org/2000/01/rdf-schema#label cumulative prospect theory