Behavioral Biases and Nonadditive Dynamics in Risk Taking: An Experimental Investigation

• Tác giả: José Cláudio do Nascimento
• Ngôn ngữ: eng
• Ký hiệu phân loại: 001.434 Experimental method
• Thông tin xuất bản: 2019
• Bộ sưu tập: Báo, Tạp chí
• ID: 163180

Tóm tắt

Comment: 12 pages, 2 figuresThis paper investigates the dynamics of gambling and how they can affect risk-taking behavior in regions not explored by Kahneman and Tversky's Prospect Theory. Specifically, it questions why extreme outcomes do not fit the theory and proposes alternative ways to measure prospects. The paper introduces a measure of contrast between gambles and conducts an experiment to test the hypothesis that individuals prospect gambles with nonadditive dynamics differently. The results suggest a strong bias towards certain options, which challenges the predictions of Kahneman and Tversky's theory.