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3. Consider a person with the following value function under prospect theory:

/in /by

3. Consider a person with the following value function under prospect theory:
V(W) =W0.4 if w 0

=-2(-w)0.4 if w < 0

Assume that this individual weight values by probabilities, instead of using the prospect theory weight function. What is the value of the following prospect?

 
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