Question: Goodday. Suppose you use a Kahneman-Tversky value function to decide how happy you are with money-based events in your life . Now assume you get

Goodday.

  1. Suppose you use a Kahneman-Tversky value function to decide how happy you are with money-based events in your life. Now assume you get a speeding fine for R500 and the same day you get an e-toll bill for R100. Would you be happier if you first combined the 2 payments and then considered the total (R600) in terms of its value/impact on your happiness? Or would you be happier if you considered each payment separately in terms of its value/impact on your happiness?
  2. Suppose you use a Kahneman-Tversky value function to decide how happy you are with money-based events in your life. Now assume you receive a gift of R400 and the same day you get an e-toll bill for R100. Would you be happier if you first combined the 2 payments and then considered the total (R300) in terms of its value/impact on your happiness? Or would you be happier if you considered each payment separately in terms of its value/impact on your happiness?

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