CPT_Lottery_Calculator.xlsx

	A	B	C	E	F	H	I	J	K	L	M	N	O
1	Cumulative Prospect Theory (CPT) Lottery Calculator — Compatibility Version (no dynamic arrays)
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3	Inputs (yellow)			Outputs (green)
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5	Outcome	Amount (x)	Probability (p)	Metric	Value	Sorted outcomes (by x)

6	1	$100.00	50.0%	CPT utility (prospect value)	57.58	Key	x_sorted	p_sorted	v(x)	cum_loss	tail_gain	π_loss	π_gain
7	2	$1,000.00	10.0%	Certainty equivalent (CE)	$158.6	0.000000003	$0.00	0.400	0.000000	0.000	1.000	0.000000	0.502509
8	3	$0.00	40.0%	Risk Premium (=CE-EP)	-$8.62	100.000000001	$100.00	0.500	39.810717	0.000	0.600	0.000000	0.318772
9	Expected Payoff (EP)	$150.00				1000.000000002	$1,000.00	0.100	251.188643	0.000	0.100	0.000000	0.178719
10	Prospect Theory parameters					Key1	100.000000001
11	alpha (gains curvature)	0.800				Key2	1000.000000002
12	beta (losses curvature)	0.800				Key3	0.000000003
13	lambda (loss aversion)	2.000
14	gamma (gain weighting)	0.650
15	delta (loss weighting)	0.650
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17	Sum of probabilities	100.0%
18	Check (should be 100%)	OK
19	Tip:	Set unused outcomes' probability to 0.
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