The bipolar Choquet Integral Representation

We present the bipolar Cumulative Prospect Theory, a generalization of Cumulative Prospect Theory of Kahneman and Tversky. Moreover we get a characterization of the Choquet Integral with respect to a bi-capacity in a discrete setting. With our model we are able to explain some recent paradoxes regarding the separate valuation of gains and losses within a mixed gamble. We present the bipolar Cumulative Prospect Theory, a generalization of Cumulative Prospect Theory of Kahneman and Tversky. Moreover we get a characterization of the Choquet Integral with respect to a bi-capacity in a discrete setting. With our model we are able to explain some recent paradoxes regarding the separate valuation of gains and losses within a mixed gamble.