This paper reviews development of Prospect Theory on its four key issues: the editing process, the value function, the probability weighting function, and risk attitude assessment under Prospect Theory. Based on past findings, the author suggests some revisions to Prospect Theory, which allows the assimilation of small gains and losses in the value function and frames gains and losses as percen...

To depict the influence of decision makers’ risk psychology on the interval-valued intuitionistic fuzzy multi-criteria decision-making process, this paper proposes a new method based on prospect theory. Considering the risk attitude of the decision maker, we transform interval-valued intuitionistic fuzzy numbers into real numbers via a prospect value function and consequently derive the prospec...

This paper discusses a GIS based decision support system that supports the petroleum upstream investment decision-making. Functions of prospect screening and evaluation in both technical aspects (Volume, structure, trap, reservoir and charge, etc.) and economic aspects (Net present value, Investment / profit Ratio, etc.) are designed and integrated into a GIS platform to supports and facilitate...

The computer system PROSPECT for the protein fold recognition using the threading method is described and evaluated in this article. For a given target protein sequence and a template structure, PROSPECT guarantees to find a globally optimal threading alignment between the two. The scoring function for a threading alignment employed in PROSPECT consists of four additive terms: i) a mutation ter...

This paper examines the problem of choosing the optimal portfolio for an investor with asymmetric attitude to gains and losses described in the prospect theory of A. Tversky and D. Kahneman. We consider the portfolio optimization problem for an investor who follows the assumptions of the prospect theory and the cumulative prospect theory under conditions on the stochastic behavior both of the p...

This is the preprint version of our paper on ICONIP. Outdoor augmented reality geographic information system (ARGIS) is the hot application of augmented reality over recent years. This paper concludes the key solutions of ARGIS, designs the mobile augmented reality pipeline prospect system (ARPPS), and respectively realizes the machine vision based pipeline prospect system (MVBPPS) and the sens...

Purpose – To: evaluate Prospect Theory and Cumulative Prospect Theory as functional models of decision making and risk within various contexts; compare and analyze risk models and decision-making models; evaluate models of stock risk developed by Robert Engle and related models; establish whether the models are related and have the same foundations; relate risk, decision making and options theo...