Download full text
(485.1Kb)
Citation Suggestion
Please use the following Persistent Identifier (PID) to cite this document:
https://nbn-resolving.org/urn:nbn:de:0168-ssoar-241654
Exports for your reference manager
Skewness as an Explanation of Gambling in Cumulative Prospect Theory
[journal article]
Abstract 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 ... view more
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.... view less
Document language
English
Publication Year
2009
Page/Pages
p. 685-689
Journal
Applied Economics, 41 (2009) 6
DOI
https://doi.org/10.1080/00036840601007476
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)