neo_additive_pwf: The neo-additive probability weighting function.

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

Description

The neo-additive probability weighting function is given by

w(p) = beta + alpha * p,

where p is the probability constrained by

w(0) = 0, w(1) = 1, 0 < p < 1,

and the two parameters in the function alpha and beta are constrained by

alpha >= 0,

beta >= 0, and

alpha + beta <= 1.

Usage

neo_additive_pwf(par, p)

Arguments

par	vector, contains the alpha and beta parameters for the pwf
p	numeric, the probability

References

Eqn. 7.2.5, p. 208-209 Wakker, P. P. (2010). Prospect theory: For risk and ambiguity. Cambridge, UK: Cambridge University Press.

See Also

plotProbW, plotTwoParProbWFam

gary-au/pt documentation built on May 16, 2019, 5:41 p.m.