Question: Describe the main differences between prospect theory and expected utility theory. Illustrate your answer with graphs, and give at least two examples of choices where

Describe the main differences between prospect theory and expected utility theory. Illustrate your answer with graphs, and give at least two examples of choices where the theories make different predictions.

One of the example given was this

the reversal of preferences when payoff values are multiplied by -1,

Please explain the example step by step, thanks

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