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Reference-Dependent Preferences [PDF]
Handbook of Behavioral Economics, 2018 <p>Submitted - <a href="/records/sv0a0-sx257/files/OD-Sprenger-062218-272anrc.pdf?download=1">OD-Sprenger-062218-272anrc.pdf</a></p>
Ted O'Donoghue, Charles Sprenger
exaly +6 more sources
Incentive Design for Reference-Dependent Preferences [PDF]
SSRN Electronic Journal, 2022 We investigate the optimal design of incentives when agents exhibit reference dependence. The theoretical framework of this paper incorporates the most prominent accounts of reference-dependent preferences and the most frequently used reference point rules.
Víctor González-Jiménez
semanticscholar +6 more sources
A Model of Reference-Dependent Preferences* [PDF]
Quarterly Journal of Economics, 2006 We develop a model of reference-dependent preferences and loss aversion where “gain‐loss utility” is derived from standard “consumption utility” and the reference point is determined endogenously by the economic environment. We assume that a person’s reference point is her rational expectations held in the recent past about outcomes, which are ...
Koszegi, Botond, Rabin, Matthew
semanticscholar +8 more sources
Bankruptcy problems with reference-dependent preferences [PDF]
International Journal of Game Theory, 2018 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Andrea Gallice
exaly +3 more sources
Cogent Economics and Finance, 2020 In this paper, the role of the reference-dependent preference in the relationship between idiosyncratic volatility and future return was investigated in the Korean stock market from July 1990 to June 2018.
Nguyen Truong Son, David Mcmillan
exaly +3 more sources
On the theory of reference-dependent preferences [PDF]
Journal of Economic Behavior and Organization, 2003 A theory is proposed in which preferences are conditional on reference points. It is related to Tversky and Kahneman's reference-dependent preference theory, but is simpler and deviates less from conventional consumer theory. Preferences conditional on any given reference point satisfy conventional assumptions.
Robert Sugden, Alistair Munro
exaly +5 more sources
Reference-Dependent Preferences: Evidence from Marathon Runners [PDF]
Management Science, 2017 Theories of reference-dependent preferences propose that individuals evaluate outcomes as gains or losses relative to a neutral reference point. We test for reference dependence in a large data set of marathon finishing times (n = 9,789,093). Models of reference-dependent preferences such as prospect theory predict bunching of finishing times at ...
Patricia Dechow +2 more
exaly +3 more sources
Price expectations and reference-dependent preferences
Journal of Economic Behavior & Organization, 2022 We experimentally test Kőszegi and Rabin's (2006, 2007) theory of reference-dependent preferences in the context of price expectations. In an incentivised valuation task, participants are endowed with a mug and provide their willingness to accept (WTA) to sell it.
Robert M. Rutledge +2 more
semanticscholar +4 more sources
Lottery-Related Anomalies: The Role of Reference-Dependent Preferences [PDF]
SSRN Electronic Journal, 2015 Previous empirical studies find that lottery-like stocks significantly underperform their non-lottery-like counterparts. Using five different measures of the lottery features in the literature, we document that the anomalies associated with these measures are state dependent: the evidence supporting these anomalies is strong and robust among stocks ...
Li An +3 more
openaire +2 more sources
Loss Aversion and Learning in Professional Golf Putting. [PDF]
Behav Sci (Basel)This paper provides new field-based evidence on loss aversion and short-run learning using high-frequency performance data from professional golf. Leveraging over 100,000 putts recorded during the 2020 Korea Professional Golfers’ Association (KPGA) Tour,
Lee D.
europepmc +2 more sources