NDLI: The bipolar Choquet integral representation

Content Provider	Springer Nature Link
Author	Greco, Salvatore Rindone, Fabio
Copyright Year	2013
Abstract	Cumulative Prospect Theory is the modern version of Prospect Theory and it is nowadays considered a valid alternative to the classical Expected Utility Theory. Cumulative Prospect theory implies Gain-Loss Separability, i.e., the separate evaluation of losses and gains within a mixed gamble. Recently, some authors have questioned this assumption of the theory, proposing new paradoxes where the Gain-Loss Separability is violated. We present a generalization of Cumulative Prospect Theory which does not imply Gain-Loss Separability and is able to explain the cited paradoxes. On the other hand, the new model, which we call the bipolar Cumulative Prospect Theory, genuinely generalizes the original Prospect Theory of Kahneman and Tversky, preserving the main features of the theory. We present also a characterization of the bipolar Choquet Integral with respect to a bi-capacity in a discrete setting.
Starting Page	1
Ending Page	29
Page Count	29
File Format	PDF
ISSN	00405833
Journal	Theory and Decision
Volume Number	77
Issue Number	1
e-ISSN	15737187
Language	English
Publisher	Springer US
Publisher Date	2013-08-02
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Cumulative Prospect Theory Gains-loss separability bi-Weighting function Bipolar Choquet integral Economic Theory Game Theory/Mathematical Methods Game Theory, Economics, Social and Behav. Sciences Operations Research/Decision Theory
Content Type	Text
Resource Type	Article
Subject	Arts and Humanities Economics, Econometrics and Finance Developmental and Educational Psychology Social Sciences Decision Sciences Applied Psychology Computer Science Applications

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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