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|a (JST)20110425
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|a DE-627
|b ger
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|a eng
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|a Birnbaum, Michael H.
|e verfasserin
|4 aut
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|a Three New Tests of Independence That Differentiate Models of Risky Decision Making
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|c 2005
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|a Text
|b txt
|2 rdacontent
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|a Computermedien
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|a This paper tests new "independence" properties to compare three models of risky decision making. According to the rank-affected multiplicative (RAM) weights model, all three properties should be satisfied; according to the transfer of attention exchange (TAX) model, two should be satisfied and one can be violated. However, according to cumulative prospect theory (CPT), all three properties will be violated if the probability weighting function is nonlinear. Although CPT is flexible enough to accommodate violations of these properties, its predicted violations based on previously estimated parameters failed to materialize. In 14 choices for which the CPT model disagreed with TAX, CPT correctly predicted the modal choice in only one case and TAX predicted the modal choice in the other 13. New versions of three other paradoxes were also tested and found to refute CPT.
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|a Copyright 2005 INFORMS
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|a choice
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|a cumulative prospect theory
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|a decision making
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|a distribution independence
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|a expected utility
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|a paradoxes
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|a prospect theory
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|a rank-dependent utility
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|a Applied sciences
|x Research methods
|x Modeling
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|a Political science
|x Government
|x Governance
|x Taxation
|x Taxes
|x Ad valorem taxes
|x Property taxes
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|a Mathematics
|x Applied mathematics
|x Statistics
|x Applied statistics
|x Statistical models
|x Parametric models
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|a Mathematics
|x Mathematical expressions
|x Mathematical functions
|x Weighting functions
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|a Political science
|x Government
|x Public administration
|x Government bureaucracy
|x Government forms
|x Tax forms
|x W2 form
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|a Behavioral sciences
|x Psychology
|x Cognitive psychology
|x Cognitive processes
|x Decision making
|x Decision analysis
|x Decision making models
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|
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|a Behavioral sciences
|x Behavioral economics
|x Prospect theory
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|a Philosophy
|x Logic
|x Paradoxes
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|a Mathematics
|x Applied mathematics
|x Management science
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|a Mathematics
|x Mathematical values
|x Mathematical variables
|x Mathematical independent variables
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|
4 |
|a Applied sciences
|x Research methods
|x Modeling
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650 |
|
4 |
|a Political science
|x Government
|x Governance
|x Taxation
|x Taxes
|x Ad valorem taxes
|x Property taxes
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650 |
|
4 |
|a Mathematics
|x Applied mathematics
|x Statistics
|x Applied statistics
|x Statistical models
|x Parametric models
|
650 |
|
4 |
|a Mathematics
|x Mathematical expressions
|x Mathematical functions
|x Weighting functions
|
650 |
|
4 |
|a Political science
|x Government
|x Public administration
|x Government bureaucracy
|x Government forms
|x Tax forms
|x W2 form
|
650 |
|
4 |
|a Behavioral sciences
|x Psychology
|x Cognitive psychology
|x Cognitive processes
|x Decision making
|x Decision analysis
|x Decision making models
|
650 |
|
4 |
|a Behavioral sciences
|x Behavioral economics
|x Prospect theory
|
650 |
|
4 |
|a Philosophy
|x Logic
|x Paradoxes
|
650 |
|
4 |
|a Mathematics
|x Applied mathematics
|x Management science
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650 |
|
4 |
|a Mathematics
|x Mathematical values
|x Mathematical variables
|x Mathematical independent variables
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|a research-article
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|i Enthalten in
|t Management Science
|d Institute for Operations Research and the Management Sciences, 1954
|g 51(2005), 9, Seite 1346-1358
|w (DE-627)320623602
|w (DE-600)2023019-9
|x 15265501
|7 nnns
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|g volume:51
|g year:2005
|g number:9
|g pages:1346-1358
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|u https://www.jstor.org/stable/20110425
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|d 51
|j 2005
|e 9
|h 1346-1358
|