A shocking experiment: New evidence on probability weighting and common ratio violations
We study whether probability weighting is observed when individuals are presented with a series of choices between lotteries consisting of real non-monetary adverse outcomes, electric shocks. Our estimation of the parameters of the probability weighting function proposed by Tversky and Kahneman (199...
Main Authors: | , , , |
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Format: | Article |
Language: | English |
Published: |
Cambridge University Press
2007-08-01
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Series: | Judgment and Decision Making |
Subjects: | |
Online Access: | https://www.cambridge.org/core/product/identifier/S1930297500000565/type/journal_article |