Is Probability Weighting Sensitive to the Magnitude of Consequences? An Experimental Investigation on Losses

By Nathalie Etchart-Vincent. 2004

179 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences

View Paper: https://www.semanticscholar.org/paper/0ff3f0f5999fb4308764d6b775f243c6fe13a66c

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Citations in the corpus

Reference-dependent utility with shifting reference points and incomplete preferences (2007, methodology): “…utility and to test the validity of decision models in different decision contexts, showing that such measurements are feasible and easily performed (e.g. Abdellaoui, 2000; Abdellaoui, Vossmann, & Weber, 2005; Bleichrodt & Pinto, 2000, 2005; Etchart-Vincent, 2004; Fennema & van Assen, 1998).”
A parameter-free analysis of the utility of money for the general population under prospect theory (2009, result): “Although the majority of studies have found similar results for losses (Abdellaoui, 2000; Abdellaoui et al., 2007b; Etchart-Vincent, 2004; Fennema & van Assen, 1998; Tversky & Kahneman, 1992), some studies have found the opposite result (Abdellaoui et al.”
A tractable method to measure utility and loss aversion under prospect theory (2008, methodology): “methods (Farquhar 1984, McCord and de Neufville 1986) are no longer valid because they do not take account of probability weighting and loss aversion. Wakker and Deneffe's (1996) trade-off method is robust to probability weighting when all outcomes are of the same sign, but is not able to handle los”
Intertemporal Tradeoffs for Gains and Losses: An Experimental Measurement of Discounted Utility (2010, unknown): “From the elicited time weights we could estimate implied annual discount rates ρs as follows: 6 Similar criteria were used by Fennema and van Assen (1999), Abdellaoui (2000), Etchart-Vincent (2004), and λs = 1 (1+ρs)s , (8) where s is time in years.”
Monetary incentives in the loss domain and behavior toward risk: An experimental comparison of three reward schemes including real losses (2011, background): “decision making under risk when losses are at stake (Abdellaoui 2000; Etchart-Vincent 2004, 2009; Fennema and Van Assen 1999; Abdellaoui et al. 2007; Abdellaoui et al. 2008).”
Aggregating imprecise or conflicting beliefs: An experimental investigation using modern ambiguity theories (2012, unknown): “2008) and concave utility functions (Abdellaoui et al. 2007; Fennema and Van Assen 1998; Etchart-Vincent 2004).”
Loss Aversion Under Prospect Theory: A Parameter-Free Measurement (2007, methodology): “In the parametric estimation, we also found a more pronounced S-shaped utility function than previous studies (Tversky and Kahneman 1992, Fennema and van Assen 1998, Abdellaoui 2000, Etchart-Vincent 2004, Schunk and Betsch 2006, and Booij and van de Kuilen 2006).”
Individual preferences for reducing flood risk to near zero through elevation (2013, background): “focus on low probabilities and overweigh them (Tversky and Kahneman 1992; Etchart-Vincent 2004; Laury et al. 2009).”
Rationality on the rise: Why relative risk aversion increases with stake size (2010, background): “Such an interpretation is consistent with the absence of a clear stake effect for purely hypothetical losses in Etchart-Vincent (2004).”