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Full-Text Articles in Social and Behavioral Sciences
On The Evolution Of Probability-Weighting Function And Its Impact On Gambling, Steven Li, Yun Hsing Cheung
On The Evolution Of Probability-Weighting Function And Its Impact On Gambling, Steven Li, Yun Hsing Cheung
Research outputs pre 2011
It is well known that individuals treat losses and gains differently and there exists non-linearity in probability. The asymmetry between gains and losses is highlighted by the reflection effect. The non-linearity in probability is described by the curvature of the probability-weighting function. This paper studies the evolution of the probability-weighting function. It is assumed that the probability weighting for an individual follows a mean-reverting stochastic process. The Monte Carlo simulation technique is employed to study the evolution of the weighting function. The evolution of the probability- weighting function implies that an individual does not treat gains or losses consistently over …
An Analysis Of The Monitored Electronic Alarm Activations In The Perth Metropolitan Area, Lynnette M. Bloom, James M. Cross, David Mcdougall
An Analysis Of The Monitored Electronic Alarm Activations In The Perth Metropolitan Area, Lynnette M. Bloom, James M. Cross, David Mcdougall
Research outputs pre 2011
This study as indicated in [7] was carried out under the auspices of Edith Cowan University's Institute of Security and Applied Technology and had the support of the Western Australian Police and the Perth-based Central Monitoring Agencies. The data analysed was obtained essentially from Police records, backed up by data from two of Perth's larger security companies, and consists of all the monitored alarms in the Perth Metropolitan Area which were attended by the police in the months of May and September 1989.In our consideration of the frequency of alarms by time of day and day of week, and the …