2014
DOI: 10.17265/2159-5542/2014.12.002
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Atsuo Murata

Abstract: This study empirically identified the relationship between the objective and the subjective probability and confirmed whether the relationship corresponded with the hypothesized weighting function proposed in prospect theory. As a result, it was found that the experimentally identified relationship between the objective and the subjective probability corresponded with the hypothetical weighting function in prospect theory. In other words, the estimated number of deaths was underestimated for moderate and high…

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