Prospect Theory (Value Function and Probability Weighting)

Storyboard

Non-linear deformation of subjective value with respect to a reference point (gain/loss asymmetry) and perceived probability. It includes the added prospective value (sum over possible outcomes), which is the final output of the decision-under-risk mini-simulator.

>Model

ID:('ky', 1595)


Model Structure

Description

ID:(0, 1595)


gphysics.net - Dr. Willy H. Gerber
Palos Verdes, Costa de Corral, Región de los Rios, Chile