We present a new theory of decision under uncertainty: third-generation prospect theory (PT). This retains the predictive power of previous versions of prospect theory, but extends that theory by allowing reference points to be uncertain while decision weights are specified in a rank-dependent way. We show that PT preferences respect a state-conditional form of stochastic dominance. The theory ...

This study deals with the vibration response of sandwich plate with nano-composite core and smart magneto-strictive face sheets. Composite core is reinforced by carbon nanotubes (CNTs) and its effective elastic properties are obtained by the rule of Mixture. Terfenol-D films are used as the face sheets of sandwich due to magneto-mechanical coupling in magneto-strictive material (MsM). In order ...