Prospect Theory: Much Ado About Nothing?

By Moshe Levy, Haim Levy. Management Sciences, 2002

313 citations recorded by the source corpus.

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Preferences over location-scale family (2008, background): “These are (a) Boyle and Ma’s (2005) mean-preserving-spread (MPS) dominance relationships, and (b) the Markowitz stochastic dominance and prospect stochastic dominance developed by Levy and Wiener (1998), Levy and Levy (2002, 2004), and Wong and Chan (2008).”
Portfolio performance evaluation with loss aversion (2010, unknown): “Note, however, that Levy and Levy (2002) and Levy and Levy (2004) extended the classical stochastic dominance principles (of an everywhere risk averse investor) by developing the Prospect and Markowitz stochastic dominance (PSD and MSD respectively) theories with Sshaped and reverse S-shaped utility”
Does Prospect Theory Explain the Disposition Effect? (2011, unknown): “Levy and Levy (2002)).”
Test Statistics for Prospect and Markowitz Stochastic Dominances with Applications (2011, unknown): “…or F X 3 G, respectively, where SFXSD, SSXSD, and STXSD stand for strictly first, second, and third order XSD, respectively, where X = A, D, M or P. Levy and Levy (2002) define the MSD and PSD functions as: H M (x) =    x a H(t) dt x < 0 b x H(t) dt x > 0 H P (x) =    0 x H(t) dt x < 0 x 0…”
The Priority Heuristic: Making Choices Without Trade-Offs (2006, methodology): “We crosschecked this result against the set of problems by Levy and Levy (2002) with six choices between mixed gambles with two, three, or four outcomes.”