Prospect versus Utility
We show how to calibrate a prospect model of decision making under risk for an individual. The prospect model is empirically compared to a utility model on two criteria, verification of the postulates of each model, and predictive accuracy. The empirical comparison is performed via three experiments...
| Veröffentlicht in: | Management Science. - Institute for Operations Research and the Management Sciences, 1954. - 35(1989), 1, Seite 22-41 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
| Veröffentlicht: |
1989
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| Zugriff auf das übergeordnete Werk: | Management Science |
| Schlagworte: | Marketing Buyer Behavior Utility/Preference Theory Value Theory Law Applied sciences Economics Behavioral sciences Mathematics |
| Online verfügbar |
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