gary-au/pt: Computational models for prospect theory and other theories of risky decision making

Implements (cumulative) prospect theory and other theories of risky decision making. A practically unlimited number of choices can be specified. The package allows for different probability weighting functions and utility functions to be specified, as well as their parameters. Other features include the ability to plot individual probability weighting curves and families of these curves, as well as individual utility function curves. Single-stage decision trees can be drawn. The probability simplex can also be drawn. Certainty equivalents and risk premiums can be plotted. Theoretical predictions for different risky decision making theories can be compared against each other and empirical data.

Getting started

Package details

AuthorGary Au
MaintainerGary Au <[email protected]>
Package repositoryView on GitHub
Installation Install the latest version of this package by entering the following in R:
gary-au/pt documentation built on May 16, 2019, 5:41 p.m.