A Note on the Goldstein–Einhorn Probability Weighting Function von Johann Markus Schauerhuber | ISBN 9783819723636

A Note on the Goldstein–Einhorn Probability Weighting Function

von Johann Markus Schauerhuber
Buchcover A Note on the Goldstein–Einhorn Probability Weighting Function | Johann Markus Schauerhuber | EAN 9783819723636 | ISBN 3-8197-2363-3 | ISBN 978-3-8197-2363-6

A Note on the Goldstein–Einhorn Probability Weighting Function

von Johann Markus Schauerhuber
This paper presents an exploration of the Goldstein–Einhorn probability weighting function (PWF), an influential model in behavioral decision theory under risk and uncertainty and evaluates its axiomatic derivations, empirical performance, structural flexibility, and applications in cumulative prospect theory (CPT). The investigations also articulate the significance of the Goldstein–Einhorn function in explaining real-world deviations from the expected utility framework.