For the Value Function in Prospect Theory, the magnitude of value increase from a gain of a particular size is smaller than the magnitude of the value decrease from an equivalent loss. Draw a neat diagram with the Value Function and explain what this means.

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The Answer of For the Value Function in Prospect Theory, the magnitude of value increase from a gain of a particular size is smaller than the magnitude of the value decrease from an equivalent loss. Draw a neat diagram with the Value Function and explain what this means.

For the Value Function in Prospect Theory, the Magnitude of Value