new model: risk: Prelec (1998) - Githubissues

drbenvincent / darc_toolbox

Run adaptive decision making experiments

MIT License

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new model: risk: Prelec (1998) #44

Open drbenvincent opened 5 years ago

drbenvincent commented 5 years ago

1 parameter version

w(p) = exp(-(-(ln(p))^gamma ) for 0<gamma<=1 The 1 parameter version has:

single, fixed, crossover point
flexible curvature

Todo:

[x] implement
[ ] check it is working properly

2 parameter version

w(p) = exp(-alpha(-(ln(p))^gamma ) for 0<gamma<=1 and 0<s The 2-parameter version has:

crossover point that shifts up and down
flexible curvature

Todo:

[ ] implement
[ ] check it is working properly
finish up tasks
[ ] add to chooser.py in the PsychoPy demo
[ ] update README
[ ] update models available in the paper

Reference

Prelec, D. (1998). The probability weighting function. Econometrica, 66, 497–527.