A note on the utility function under prospect theory

被引：33
|
作者：
al-Nowaihi, Ali [1 ]
Bradley, Ian [1 ]
Dhami, Sanjit [1 ]
机构：
[1] Univ Leicester, Dept Econ, Leicester LE1 7RH, Leics, England
来源：
ECONOMICS LETTERS | 2008年 / 99卷 / 02期
关键词：
prospect theory; preference homogeneity; functional equations;
D O I：
10.1016/j.econlet.2007.08.004
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We show that preference-homogeneity and loss-aversion are necessary and sufficient for the value function to have the power form with identical powers for gains and losses and for the probability weighting functions for gains and losses to be identical. (c) 2007 Elsevier B.V. All rights reserved.
引用
收藏
页码：337 / 339
页数：3
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