The probability weighting function: experimental evidence from Uganda, India and Ethiopia

Steven J. Humphrey, Arjan Verschoor

Research output: Contribution to journalArticlepeer-review

37 Citations (Scopus)


We use the common consequence effect to investigate whether rank-dependent theory with an inverse S-shaped probability weighting function describes the risky choices of rural Ethiopians, Indians and Ugandans. We find that behaviour is better described by an S-shaped weighting function.
Original languageEnglish
Pages (from-to)419-425
Number of pages7
JournalEconomics Letters
Issue number3
Publication statusPublished - Sep 2004

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