Results 11 to 20 of about 256,532 (315)
Reference Dependent Preferences and the EPK Puzzle [PDF]
SSRN Electronic Journal, 2013 Supported by several recent investigations, the empirical pricing kernel (EPK) puzzle might be considered a stylized fact. Based on an economic model with state dependent preferences for the financial investors, we want to emphasize a microeconomic view that succeeds in explaining the puzzle.
Maria Grith +2 more
core +7 more sources
Reference-dependent preferences and loss aversion [PDF]
Judgment and Decision Making, 2008 This study employs a Discrete Choice Experiment (DCE) in the health-care sector to test the loss aversion theory that is derived from reference-dependent preferences: The absolute subjective value of a deviation from a reference point is generally ...
Einat Neuman, Shoshona Neuman
doaj +1 more source
Reference-dependent preferences, super-dominance and stochastic stability
Journal of Mathematical Economics, 2018 This paper investigates stochastic stability of noisy best response dynamics with reference-dependent preferences. We define a strategy as super-dominant in a 2 × 2 coordination game if it is the maximin strategy in terms of monetary returns and the ...
Jiabin Wu, Ryoji Sawa
exaly +2 more sources
Tullock contest with reference‐dependent preferences
Economic InquiryAbstractWe study the Tullock contest model with loss aversion and endogenously formed reference points. In a contest with n possibly heterogeneous players and convex effort costs, we establish sufficient conditions for a unique Nash equilibrium in pure strategies.
Francesco Fallucchi, Francesco Trevisan
openaire +2 more sources
The Political Implications of Reference-Dependent Preferences *
Journal of the European Economic AssociationAbstract This paper studies electoral competition over redistributive taxation between a safe incumbent and a risky opponent. With reference-dependent preferences, economically disappointed voters become risk lovers, and hence are attracted by the more risky candidate.
Panunzi, Fausto +2 more
openaire +3 more sources
Partial liquidation under reference-dependent preferences [PDF]
Finance and Stochastics, 2020 We propose a multiple optimal stopping model where an investor can sell a divisible asset position at times of her choosing. Investors have S $S$ -shaped reference-dependent preferences, whereby utility is defined over gains and losses relative to a ...
Vicky Henderson, J. Muscat
semanticscholar +3 more sources
BEP-IM: A Vehicular Crowdsensing Incentive Mechanism to Drive Sustained Spatial Coverage and Proactive Sensing Shaping. [PDF]
Entropy (Basel)In the Internet of Vehicles, vehicular crowdsensing is crucial for alleviating traffic congestion and ensuring the safety of autonomous driving. However, practical vehicular crowdsensing processes face dual challenges of skewed spatial distributions of ...
Zhang J +5 more
europepmc +2 more sources
Reference-Dependent Preferences in Multi-Issue Bargaining [PDF]
, 2005 Game theoretic bargaining models usually assume parties to have exogenously given preferences from the beginning of a negotiation on. Preferences in these models do not depend on the history of offers made during a negotiation. This paper argues that preferences are based on issue-wise reference points changing during the bargaining process as result ...
Gimpel, Henner
openaire +7 more sources
A psychological law of inertia and the illusion of loss aversion [PDF]
Judgment and Decision Making, 2006 The principle of loss aversion is thought to explain a wide range of anomalous phenomena involving tradeoffs between losses and gains. In this article, I show that the anomalies loss aversion was introduced to explain - the risky bet premium, the ...
David Gal
doaj +2 more sources
Reference-dependent preferences and gasoline consumption in Thailand
Kasetsart Journal of Social Sciences, 2023 openaire +2 more sources