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Journal of Risk and Uncertainty, 5:297-323 (1992)
© 1992Kluwer Academic Publishers
Advances in Prospect Theory:
Cumulative Representation of Uncertainty
AMOS TVERSKY
Stanford University,Department of Psychology, Stanford, CA 94305-2130
DANIEL KAHNEMAN*
Universityof California at Berkeley, Department of Psychology, Berkeley, CA 94720
Key words: cumulative prospect theory
Abstract
We develop a new version of prospect theory tha
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