In the paper Cenci et al.  an intuitive and parsimonious descriptive model of decision making under risk that can explain the Kahneman and Tversky’s  paradoxes has been proposed for non-negative lotteries. In this paper it is shown that a straightforward extension of the value function proposed in  explains the Kahneman and Tversky’s  paradoxes also for negative lotteries.
Corradini, M. (2022). Half-full half-empty functional: an extension to negative lotteries. APPLIED MATHEMATICAL SCIENCES, 16(12), 645-648 [10.12988/ams.2022.917265].