Is data interpretation in utility and prospect theories unquestionably correct?

Alexander Harin

MPRA Paper from University Library of Munich, Germany

Abstract: This is a very draft version of the report "The random-lottery incentive system. Can p~1 experiments deductions be correct?". It is published to extend the abstract of the report. Aczél and Luce emphasized a fundamental question: whether W(1)=1 (whether the Prelec weighting function equals 1 at p=1). A purely mathematical theorem proves W(1)

Keywords: utility; prospect theory; random-lottery incentive system; Prelec weighting function; experiments (search for similar items in EconPapers)
JEL-codes: C1 C81 C9 C91 D81 (search for similar items in EconPapers)
Date: 2014-02-22
New Economics Papers: this item is included in nep-upt
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