Violations of Cumulative Prospect Theory in Mixed Gambles with Moderate Probabilities
通过课堂选择实验，在中等概率的混合赌博中发现累积前景理论和Markowitz随机占优被严重违反，为Levy与Wakker的争论提供新证据。
In a classroom choice experiment with mixed gambles and moderate probabilities, we find severe violations of cumulative prospect theory (CPT) and of Markowitz stochastic dominance. Our results shed new light on the exchange between Levy and Levy (2002) and Wakker (2003) in this journal.