کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
326329 542233 2013 10 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Compound invariance implies prospect theory for simple prospects
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات ریاضیات کاربردی
پیش نمایش صفحه اول مقاله
Compound invariance implies prospect theory for simple prospects
چکیده انگلیسی


• Prelec’s (1998) two-parameter condition implies prospect theory.
• Prelec’s (1998) two-parameter condition implies discounted utility.
• Many well known functional equations are mutually equivalent.

Behavioral conditions such as compound invariance for risky choice and constant decreasing relative impatience for intertemporal choice have surprising implications for the underlying decision model. They imply a multiplicative separability of outcomes and either probability or time. Hence the underlying model must be prospect theory or discounted utility on the domain of prospects with one nonzero outcome. We indicate implications for richer domains with multiple outcomes, and with both risk and time involved.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Mathematical Psychology - Volume 57, Issues 3–4, June–August 2013, Pages 68–77
نویسندگان
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