Prospect Theory for joint time and money consequences in risk and ambiguity

• Published in: Transportation research. Part B: methodological Vol. 56; pp. 81 - 95
• Main Authors: Kemel, Emmanuel, Paraschiv, Corina
• Format: Journal Article
• Language: English
• Published: Kidlington Elsevier Ltd 01.10.2013; Elsevier
• Subjects: Ambiguity; Applied sciences; Exact sciences and technology; Ground, air and sea transportation, marine construction; Multi attribute decisions; Prospect theory; Real incentives; Risk; Time; Risk; Prospect theory; Multi attribute decisions; Real incentives; Time; Ambiguity; Incentive; Decision making; Transportation; Theoretical study; Travel; Experimentation; Risk management

•A probability weighting measurement method for multi-attribute decisions is proposed.•The method is implemented in an experiment involving real time and money incentives.•Attitudes towards risk and towards ambiguity are compared at an individual level.•Probability weighting is observed for both ris...