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they devised a new measurement of cross-sectional prospect theory value (CSPTV) to enable cross-sectional comparison among stocks, compared with the existing prospect theory value (PTV ...

Abstract: This paper provides a theoretical rationale for three experimental results of Prospect Theory: risk preferences are over gains ... decision maker who does not find her new optimal ...

It is 35 years since Daniel Kahneman and Amos Tversky first outlined their version of what was to become prospect theory, highlighting the high value investors accord to loss aversion relative to ...