Question: Consider a person with the following value function under prospect theory: v(w) = w.5 if w 0 =-2(-w).5 if w < 0 a. Is this

Consider a person with the following value function under prospect theory: v(w) = w.5 if w 0 =-2(-w).5 if w < 0 a. Is this individual loss averse? Explain b. Assume that this individual weights values by probabilities, instead of using prospect theory weighting function. Which of the following prospects would be preferred? P1(.8, 1000, -800) P2(.7, 1200, -600) P3(.5, 2000,-1000)

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work is motivating when seen to be useful to self and others striving towards a common goal;

regard for pragmatism and common sense in the work situation rather than precise rules, but a strong sense of order and tradition means rules that are spelt out will be obeyed;

Recognition that organizations must adapt to a future of constant change.