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

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

v(w) = w^.5if w 0

=-2(-w)^.5if w < 0

a.Is this individual loss averse? Explain Can you Answer and and explain this please. I really want to understand the concept behind prospect theory. Thanks

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