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2019 Applying prospect theory to multiattribute problems with independence assumptions
Jack Stanley, Frank P. A. Coolen
Involve 12(4): 687-711 (2019). DOI: 10.2140/involve.2019.12.687

Abstract

We discuss a descriptive theory of decision making which has received much attention in recent decades: prospect theory. We specifically focus on applying the theory to problems with two attributes, assisted by different independence assumptions. We discuss a process for solving decision problems using the theory before applying it to a real life example of purchasing breakdown cover.

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Jack Stanley. Frank P. A. Coolen. "Applying prospect theory to multiattribute problems with independence assumptions." Involve 12 (4) 687 - 711, 2019. https://doi.org/10.2140/involve.2019.12.687

Information

Received: 20 July 2018; Revised: 4 October 2018; Accepted: 15 November 2018; Published: 2019
First available in Project Euclid: 30 May 2019

zbMATH: 07072547
MathSciNet: MR3941606
Digital Object Identifier: 10.2140/involve.2019.12.687

Subjects:
Primary: 91B06, 91B16

Rights: Copyright © 2019 Mathematical Sciences Publishers

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Vol.12 • No. 4 • 2019
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