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|a (JST)20110428
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|a DE-627
|b ger
|c DE-627
|e rakwb
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|a eng
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|a Abdellaoui, Mohammed
|e verfasserin
|4 aut
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|a Choice-Based Elicitation and Decomposition of Decision Weights for Gains and Losses under Uncertainty
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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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|2 rdamedia
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|a Online-Ressource
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|a This paper reports the results of an experimental parameter-free elicitation and decomposition of decision weights under uncertainty. Assuming cumulative prospect theory, utility functions were elicited for gains and losses at an individual level using the tradeoff method. Subsequently, decision weights were elicited througfh certainty equivalents of uncertain two-outcome prospects. Furthermore, decision weights were decomposed using observable choice instead of invoking other empirical primitives, as in previous experimental studies. The choice-based elicitation of decision weights allows for a quantitative study of their characteristics, and also allows, among other things, for the examination of the sign-dependence hypothesis for observed choice under uncertainty. Our results confirm concavity of the utility function in the gain domain and bounded subadditivity of decision weights and choice-based subjective probabilities. We also find evidence for sign dependence of decision weights.
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|a Copyright 2005 INFORMS
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|a decision under uncertainty
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|a Choquet expected utility
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|a cumulative prospect theory
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|a decision weights
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|a choice-based probabilities
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|a probability weighting
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|a Economics
|x Microeconomics
|x Economic utility
|x Utility functions
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|a Mathematics
|x Mathematical expressions
|x Mathematical functions
|x Weighting functions
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|a Mathematics
|x Mathematical procedures
|x Approximation
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|a Mathematics
|x Pure mathematics
|x Geometry
|x Geometric properties
|x Curvature
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|a Mathematics
|x Mathematical analysis
|x Numerical analysis
|x Numerical methods
|x Linear interpolation
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|a Mathematics
|x Applied mathematics
|x Statistics
|x Applied statistics
|x Descriptive statistics
|x Central tendencies
|x Statistical median
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|a Philosophy
|x Applied philosophy
|x Philosophy of science
|x Scientific method
|x Hypothesis testing
|x T tests
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|a Mathematics
|x Mathematical values
|x Mathematical variables
|x Mathematical independent variables
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|a Mathematics
|x Pure mathematics
|x Probability theory
|x Probabilities
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|a Behavioral sciences
|x Psychology
|x Cognitive psychology
|x Emotion
|x Emotional states
|x Ambivalence
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|a Economics
|x Microeconomics
|x Economic utility
|x Utility functions
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650 |
|
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|a Mathematics
|x Mathematical expressions
|x Mathematical functions
|x Weighting functions
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650 |
|
4 |
|a Mathematics
|x Mathematical procedures
|x Approximation
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650 |
|
4 |
|a Mathematics
|x Pure mathematics
|x Geometry
|x Geometric properties
|x Curvature
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650 |
|
4 |
|a Mathematics
|x Mathematical analysis
|x Numerical analysis
|x Numerical methods
|x Linear interpolation
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650 |
|
4 |
|a Mathematics
|x Applied mathematics
|x Statistics
|x Applied statistics
|x Descriptive statistics
|x Central tendencies
|x Statistical median
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650 |
|
4 |
|a Philosophy
|x Applied philosophy
|x Philosophy of science
|x Scientific method
|x Hypothesis testing
|x T tests
|
650 |
|
4 |
|a Mathematics
|x Mathematical values
|x Mathematical variables
|x Mathematical independent variables
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650 |
|
4 |
|a Mathematics
|x Pure mathematics
|x Probability theory
|x Probabilities
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650 |
|
4 |
|a Behavioral sciences
|x Psychology
|x Cognitive psychology
|x Emotion
|x Emotional states
|x Ambivalence
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|a research-article
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|a Vossmann, Frank
|e verfasserin
|4 aut
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|a Weber, Martin
|e verfasserin
|4 aut
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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 1384-1399
|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:1384-1399
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|u https://www.jstor.org/stable/20110428
|3 Volltext
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|d 51
|j 2005
|e 9
|h 1384-1399
|