The expo-power value function as a candidate for the work-horse specification in parametric versions of cumulative prospect theory

C-Tier
Journal: Economics Letters
Year: 2009
Volume: 105
Issue: 3
Pages: 326-329

Score contribution per author:

0.503 = (α=2.01 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

The piecewise power value function proposed by Kahneman and Tversky is inconsistent with both theoretical and experimental work. We propose the expo-power function as an alternative to the power function and examine its ability to explain choices in Allais experiments.

Technical Details

RePEc Handle
repec:eee:ecolet:v:105:y:2009:i:3:p:326-329
Journal Field
General
Author Count
2
Added to Database
2026-01-28