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The effects of losses and event splitting on the Allais paradox
by: shinta, 11 pagesThe Allais Paradox, or common consequence effect, has been a standard challenge to normative theories of risky choice since its proposal over 60 years ago. However, neither its causes nor the ...
New tests of cumulative prospect theory and the priority heuristic: Probability-outcome tradeoff with branch splitting
by: shinta, 13 pagesPrevious tests of cumulative prospect theory (CPT) and of the priority heuristic (PH) found evidence contradicting these two models of risky decision making. However, those tests were ...
Tests of Cumulative Prospect Theory with graphical displays of probability
by: shinta, 19 pagesRecent research reported evidence that contradicts cumulative prospect theory and the priority heuristic. The same body of research also violates two editing principles of original prospect ...
