Skewness of return has been suggested as a reason why agents might choose to gamble, ceteris paribus, in Cumulative Prospect Theory (CPT). We investigate the relationship between moments of return in two models where agents choices over uncertain outcomes are determined as in CPT. We illustrate via examples that in CPT theory, as with expected utility theory, propositions that agents have a preference for skewness may be invalid
The paper relates cumulative prospect theory to the moments of returns distributions, e.g. skewness ...
We find that in cumulative prospect theory (CPT) with a concave value function in gains, a lottery w...
Many economic models assume that individuals make decisions by maximizing their expected utility. Ex...
Skewness of return has been suggested as a reason why agents might choose to gamble, ceteris paribus...
Given that the expected return and variance of return of two gambles are equal the hypothesis that t...
Given that the expected return and variance of return of two gambles are equal the hypothesis that t...
Given that the expected return and variance of return of two gambles are equal the hypothesis that ...
Given that the expected return and variance of return of two gambles are equal the hypothesis that ...
Given that the expected return and variance of return of two gambles are equal the hypothesis that ...
Given that the expected return and variance of return of two gambles are equal the hypothesis that ...
Within the expected utility framework skewness of return has been suggested as a rationale for why r...
Whether people seek or avoid risks on gambling, insurance, asset, or labor markets crucially depends...
Whilst Cumulative Prospect theory (CPT) provides an explanation of gambling on longshots at actuaria...
It is well known that the parametric version of Cumulative Prospect theory (CPT) proposed by Kahnema...
The paper relates cumulative prospect theory to the moments of returns distributions, e.g. skewness ...
The paper relates cumulative prospect theory to the moments of returns distributions, e.g. skewness ...
We find that in cumulative prospect theory (CPT) with a concave value function in gains, a lottery w...
Many economic models assume that individuals make decisions by maximizing their expected utility. Ex...
Skewness of return has been suggested as a reason why agents might choose to gamble, ceteris paribus...
Given that the expected return and variance of return of two gambles are equal the hypothesis that t...
Given that the expected return and variance of return of two gambles are equal the hypothesis that t...
Given that the expected return and variance of return of two gambles are equal the hypothesis that ...
Given that the expected return and variance of return of two gambles are equal the hypothesis that ...
Given that the expected return and variance of return of two gambles are equal the hypothesis that ...
Given that the expected return and variance of return of two gambles are equal the hypothesis that ...
Within the expected utility framework skewness of return has been suggested as a rationale for why r...
Whether people seek or avoid risks on gambling, insurance, asset, or labor markets crucially depends...
Whilst Cumulative Prospect theory (CPT) provides an explanation of gambling on longshots at actuaria...
It is well known that the parametric version of Cumulative Prospect theory (CPT) proposed by Kahnema...
The paper relates cumulative prospect theory to the moments of returns distributions, e.g. skewness ...
The paper relates cumulative prospect theory to the moments of returns distributions, e.g. skewness ...
We find that in cumulative prospect theory (CPT) with a concave value function in gains, a lottery w...
Many economic models assume that individuals make decisions by maximizing their expected utility. Ex...
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