Predicting P2P lenders' decisions: the prospect theory approach

2022 ◽  
Vol 17 (1) ◽  
pp. 1
Author(s):  
Yong Lu ◽  
Zhexiang Sheng ◽  
Kaidong Zhang ◽  
Qiang Duan
Keyword(s):  
Prospect Theory ◽  
Theory Approach

Preferences For Prolonging Life: A Prospect Theory Approach

2003 ◽  
Vol 56 (2) ◽  
pp. 155-170 ◽  
Author(s):  
Laraine Winter ◽  
M. Powell Lawton ◽  
Katy Ruckdeschel
Keyword(s):  
Health Status ◽  
Prospect Theory ◽  
Functional Ability ◽  
Decision Model ◽  
Decision Makers ◽  
Health Conditions ◽  
Theory Approach ◽  
Current Health ◽  
Current Health Status ◽  
Healthy Participants

Kahneman and Tversky's (1979) Prospect theory was tested as a model of preferences for prolonging life under various hypothetical health statuses. A sample of 384 elderly people living in congregate housing (263 healthy, 131 frail) indicated how long (if at all) they would want to live under each of nine hypothetical health conditions (e.g., limited to bed or chair in a nursing home). Prospect theory, a decision model which takes into account the individual's point of reference, would predict that frail people would view prospective poorer health conditions as more tolerable and express preferences to live longer in worse health than would currently healthy people. In separate analyses of covariance, we evaluated preferences for continued life under four conditions of functional ability, four conditions of cognitive impairment, and three pain conditions—each as a function of participant's current health status (frail vs. healthy). The predicted interaction between frailty and declining prospective health status was obtained. Frail participants expressed preferences for longer life under more compromised health conditions than did healthy participants. The results imply that such preferences are malleable, changing as health deteriorates. They also help explain disparities between proxy decision-makers' and patients' own preferences as expressed in advance directives.

scholarly journals Analysis of the TV Show «Sdelka?!»: Prospect Theory Approach

2021 ◽  
Vol 25 (1) ◽  
pp. 129-146
Author(s):  
Sofia Dolgikh ◽  
◽  
Bogdan Potanin ◽  
Keyword(s):  
Prospect Theory ◽  
Theory Approach ◽  
Tv Show

scholarly journals A CUMULATIVE PROSPECT THEORY APPROACH TO CAR OWNER MODE CHOICE BEHAVIOUR PREDICTION

Transport ◽  
2014 ◽  
Vol 29 (4) ◽  
pp. 386-394 ◽  
Author(s):  
Shi An ◽  
Xiaowei Hu ◽  
Jian Wang
Keyword(s):  
Prospect Theory ◽  
Utility Theory ◽  
Mode Choice ◽  
Congestion Pricing ◽  
Cumulative Prospect Theory ◽  
Middle Level ◽  
Subjective Perception ◽  
Theory Approach ◽  
Choice Behaviour ◽  
Pricing Policy

The uncertain transportation environment makes travel’s mode choice decision-making behaviour become a complex and alterable process. Based on the cumulative prospect theory, this paper analysed the long-standing use of utility theory for the travel’s mode choice behaviour research. Car owner’s generalized cost includes the transport fare, travel time cost and penalty cost (early or delay); cumulative prospect theory was applied to describe the uncertain and risky prospect of car owner under congestion pricing policy. Through analysing two kinds of car owner’s generalized subjective perception costs on the four different transportation modes, including bus, subway, taxi and private car; we calculated the mode choice’s prospect value before and after the implementation of congestion pricing, and compared the difference of numerical example between cumulative prospect theory and expected utility theory. The results indicated that after the implementation of congestion pricing policy, the middle-level income car owner would prefer to choose taxi. Based on a state preference survey on travel’s mode choice behaviour, the survey results further validated our analysis. This paper for the first time adopted cumulative prospect theory to analyse travel’s mode choice behaviour after the implementation of congestion pricing policy, which can better explain car owner’s mode choice decisionmaking process under uncertain and risk condition. This study also can be helpful to many cities that wish to establish and implement the congestion pricing policy in practice.

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