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2020 | 30 | 4 | 39-56
Article title

From expected utility theory to prospect theory: tracking down the experimental path after forty years

Content
Title variants
Languages of publication
EN
Abstracts
EN
The expected utility theory axioms have been studied experimentally. Three of the experiments are a repetition of an earlier test in slightly changed circumstances, while the other two are original. The participants were incentivised with rewards, which did not happen in the replicated tests. The results confirmed the degeneration of the expected utility theory as a scientific research program. The evidence that resulted from the tests supported the hypothesis on the cumulative prospect theory predicting facts not forecasted by the EUT.
Year
Volume
30
Issue
4
Pages
39-56
Physical description
Contributors
  • Department of Microeconomics, Poznań University of Economics and Business, al. Niepodległości 10, 61-875 Poznań, Poland
References
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Document Type
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.desklight-1cb8a9a4-1ad2-43f6-80ba-da92b89821e8
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