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Consider Richard has the following value function under prospect theory: v(w) w when w>0 =-2(-w) when w <0 Richard is deciding whether to buy

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Consider Richard has the following value function under prospect theory: v(w) w when w>0 =-2(-w) when w

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71 To determine if Richard is lossaverse we need to compare how he values gains and losses According to the prospect theory value function provided Ri... blur-text-image

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