TESTING PROSPECT THEORY PARAMETERS

• Authors: Baláž Vladimír , Viera Bačová , Eva Drobná , Katarína Dudeková , Kamil Adamík
• Languages of publication: EN

Abstracts

EN

This research study used the original Tversky and Kahneman (1992) methodology to establish values of the key prospect theory parameters in samples of Slovakian construction managers and tertiary students. Median sample values for choice tasks with gains elicited in both samples were fairly similar to those established by the Tversky and Kahneman work (1992). When the same estimation techniques and data types are used, the prospect theory parameter values in Slovakian samples seem fairly similar for standard student populations in developed countries. Based on our results we assume that estimation techniques and data types may be more important for determining parameter values than testing environments and gender or experience of participants.

Keywords

EN

PROSPECT THEORY; PARAMETERS; DECISION; RISK; BEHAVIOURAL ECONOMICS

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2013
• Volume: 61
• Issue: 7
• Pages: 655 – 671

Contributors

author

Baláž Vladimír

• Prognostický ústav SAV, Šancová 56, 811 05 Bratislava, Slovak Republic

author

Viera Bačová

author

Eva Drobná

author

Katarína Dudeková

author

Kamil Adamík