study of economic decision making. We propose a method to jointly measure the intensity of risk aversion, prudence, and … temperance. Our theoretical approach is to define risk compensations of different orders, and in an experiment we elicit these …. In contrast to commonly used utility functions, prospect theory can predict this behavioral pattern. In our experiment …

of risky decision making also apply to choices about distributional fairness, in particular focusing on the key biases … that lead to prospect theory. This finding is achieved by introducing a novel thought experiment regarding the fairness of …

In this paper, we axiomatize a target-based model of choice that allows decision makers to be both risk averse and risk …

Individual risk preferences can be identified by using decision models with tuned parameters that maximally fit a set … of risky choices made by a decision maker. A goal of this model fitting procedure is to isolate parameters that … decision maker's tastes and willingness to tolerate risk. Using hierarchical statistical methods we show significant …

some axiomatic research review of Cumulative Prospect Theory (CPT) as a framework for decision under risk. …

This paper tests new "independence" properties to compare three models of risky decision making. According to the rank …