Consider a person with the following value function under prospect theory: v(z)=z^((1)/(2)) if z=0 v(z)=-1.8(-z)^((1)/(2)) if z

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Consider a person with the following value function under prospect theory:

v(z)=z^((1)/(2)) if z>=0
v(z)=-1.8(-z)^((1)/(2)) if z<0

where

z=

change in wealth. Is this individual loss averse? Cannot be determined from information provided. No. Yes.

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