Golubev, Yuri (contributor); Härdle, Wolfgang (contributor) - 2008
consistent with classical theory of risk averse behaviour, while rejection of monotone de-
creasing EPK would mean non …-concave utility function and
contradict to classical theory about risk-averse agents. On middle and right panels of Figure
4.5 testing … Financial Studies, 6, (2),
327-343.
Kahneman, D and Tversky, A. (1979). Prospect Theory: An Analysis of Decision under
Risk …