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

Steven J. Humphrey; Arjan Verschoor

doi:10.1016/j.econlet.2004.02.015

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

Steven J. Humphrey, Arjan Verschoor

Research output: Contribution to journal › Article › peer-review

39 Citations (Scopus)

Abstract

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 language	English
Pages (from-to)	419-425
Number of pages	7
Journal	Economics Letters
Volume	84
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2004.02.015
Publication status	Published - Sep 2004

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10.1016/j.econlet.2004.02.015

Cite this

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

abstract = "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.",

author = "Humphrey, {Steven J.} and Arjan Verschoor",

year = "2004",

month = sep,

doi = "10.1016/j.econlet.2004.02.015",

language = "English",

volume = "84",

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AU - Humphrey, Steven J.

AU - Verschoor, Arjan

PY - 2004/9

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AB - 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.

U2 - 10.1016/j.econlet.2004.02.015

DO - 10.1016/j.econlet.2004.02.015

M3 - Article

VL - 84

SP - 419

EP - 425

JO - Economics Letters

JF - Economics Letters

SN - 0165-1765

IS - 3

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