Question: Consider a person with the following value function under prospect theory: v(w) = w.0.5 if w 0 =-2(-w.)0.5 if w < 0 Assume that this

Consider a person with the following value function under prospect theory: v(w) = w.0.5 if w 0 =-2(-w.)0.5 if w < 0 Assume that this individual weight values by probabilities, instead of using the prospect theory weighting function. What is the value of the following prospect? P1 (0.5, 1000, -800)

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