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Sketch the Utility Curve in Prospect Theory (3 points) What are the three main features of this curve and how do they relate to behavior
Sketch the Utility Curve in Prospect Theory (3 points) What are the three main features of this curve and how do they relate to behavior (3 points) What is the main reference point in the Utility Curve for Prospect Theory? (1 point) How can this reference point help us to understand the shape of the utility curve for gains and losses? (2 points) What property of the Utility curve can not be explained by the reference point? (1 point)
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