Probability and Risk: Foundations and Economic Implications of Probability-Dependent Risk Preferences

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Household Portfolio Underdiversification and Probability Weighting: Evidence from the Field (2018, unknown): “9 Although widely used in the finance literature, the Tversky and Kahneman (1992) function generates an artificial negative correlation between the utility curvature and the probability weighting parameters (Fehr-Duda and Epper, 2012).”
The Psychology of Tail Events: Progress and Challenges (2013, methodology): “…sophisticated methods to carefully estimate the probability weighting function from experimental data; taken together, these studies suggest that, at least in laboratory settings, probability weighting is a remarkably robust feature of risk attitudes (for a review, see Fehr-Duda and Epper 2012).”