In the new study led by Kai Ruggeri (phD and assistant professor of health policy and management) in 2020, he has confirmed the 1979 study but in a much larger scale and robust way as it was conducted in so many countries, languages, currencies to see the general application of the prospect theory.
Participants were presented with 17 hypothetical decisions about potential gains and losses of money. For example: If you were given $1,000 to play a game, would you accept a 50 percent chance to double your money or a 100 percent guarantee of gaining an additional $500? In all, 4,098 respondents who completed all the questions were included in the final analysis.