Dertwinkel-Kalt, Markus; Köster, Mats - 2019 - First version: February 2017, this version: January 2019
skewed risks. We show that salience theory of choice under risk can explain this preference for positive skewness, because … unlikely, but outstanding payoffs attract attention. In contrast to alternative models, however, salience theory predicts that … preferences - typically attributed to cumulative prospect theory - are more naturally accommodated by salience theory. …