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    • Prospect Theory in Choice and Pricing Tasks 

      Harbaugh, William; Krause, Kate; Vesterlund, Lise (University of Oregon, Dept. of Economics, 2002-07-20)
      The most distinctive prediction of prospect theory is the fourfold pattern (FFP) of risk attitudes. People are said to be (1) risk-seeking over low-probability gains, (2) risk-averse over low-probability losses, (3) ...
    • Risk Attitudes of Children and Adults : Choices over Small and Large Probability Gains and Losses 

      Harbaugh, William; Krause, Kate; Vesterlund, Lise (2001-11-05)
      In this paper we examine how risk attitudes change with age. We present participants from age 5 to 64 with choices between simple gambles and the expected value of the gambles. The gambles are over both gains and losses, ...