Journal article | Zeitschriftenartikel
Skewness as an Explanation of Gambling in Cumulative Prospect Theory
Skewness of return has been suggested as a reason why agents might choose to gamble, ceteris paribus, in Cumulative Prospect Theory (CPT). We investigate the relationship between moments of return in two models where agents choices over uncertain outcomes are determined as in CPT. We illustrate via examples that in CPT theory, as with expected utility theory, propositions that agents have a preference for skewness may be invalid.
- Umfang
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Seite(n): 685-689
- Sprache
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Englisch
- Anmerkungen
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Status: Postprint; begutachtet (peer reviewed)
- Erschienen in
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Applied Economics, 41(6)
- Ereignis
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Geistige Schöpfung
- (wer)
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Peel, David
Law, DAvid
- Ereignis
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Veröffentlichung
- (wann)
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2009
- DOI
- URN
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urn:nbn:de:0168-ssoar-241654
- Rechteinformation
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GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln
- Letzte Aktualisierung
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21.06.2024, 16:28 MESZ
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Objekttyp
- Zeitschriftenartikel
Beteiligte
- Peel, David
- Law, DAvid
Entstanden
- 2009
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