V(c) Recall that under prospect theory, the value of an outcome x that occurs with with...

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V(c) Recall that under prospect theory, the value of an outcome x that occurs with with probability p is V(x) = (p)v(x). Suppose x > 0 and Pr{x} = Pr{-} Based on the characteristics of decision weights and value functions, is V(-) > 1 or < 1? Show your work. V() IV(-) V(c) Recall that under prospect theory, the value of an outcome x that occurs with with probability p is V(x) = (p)v(x). Suppose x > 0 and Pr{x} = Pr{-} Based on the characteristics of decision weights and value functions, is V(-) > 1 or < 1? Show your work. V() IV(-)

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