Results 11 to 20 of about 1,854,346 (342)
Reference Dependence and Market Participation [PDF]
SSRN Electronic Journal, 2017 This paper finds optimal portfolios for the reference-dependent preferences by Kőszegi and Rabin with piecewise linear gain–loss utility in a one-period model with a safe and a risky asset. If the return of the risky asset is highly dispersed relative to its potential gains, two personal equilibria arise, one of them including risky investments and ...
Paolo Guasoni, Andrea Meireles-Rodrigues
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Reference dependence, cooperation, and coordination in games [PDF]
Judgment and Decision Making, 2015 The problems of how self-interested players can cooperate despite incentives to defect, and how players can coordinate despite the presence of multiple equilibria, are among the oldest and most fundamental in game theory.
Mark Schneider, Jonathan W. Leland
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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
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Green Supply Chain Management with Nash Bargaining Loss-Averse Reference Dependence
Mathematics, 2021 This paper investigates a two-echelon green supply chain (GSC) with a single loss-averse manufacturer and a single loss-averse retailer. Since the Nash bargaining solution exactly characterizes endogenous power and the contribution of the GSC members, it
Wentao Yi +3 more
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Initial person reference in Providence Island Sign Language
Glossa, 2021 When referring to non-present entities, speakers and signers can select from a range of different strategies to create expressions that range from extremely concise to highly elaborate.
Kate Mesh +2 more
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Reference Dependence and Labor Market Fluctuations [PDF]
NBER Macroeconomics Annual, 2014 We incorporate reference-dependent worker behavior into a search-matching model of the labor market, in which fi rms have all the bargaining power and productivity follows a log-linear AR(1) process. Motivated by Akerlof (1982) and Bewley (1999), we assume that existing workers’ output falls stochastically from its normal level when their wage falls ...
Eliaz, Kfir, Spiegler, Ran
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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, Shoshana Neuman
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IEEE Access, 2019 The continuous increase in the number of private cars has caused an imbalance in the travel of cars and buses. This phenomenon has become a bottleneck restricting urban transportation economy and sustainable development.
Tianchao Guan, Tongfei Li
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A reference-dependent representation with subjective tastes [PDF]
Journal of Mathematical Economics, 2011 The paper investigates individual choice with the account of context effects which bias the choice. The presence of an inferior option in a choosing menu increases the attractiveness of the better options of the menu and thus disturbs the normative ranking. A concern for the menu flexibility, which increases the inclination of a decision maker, is also
unknown ( host institution ) +1 more
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The Neurobiology of Reference-Dependent Value Computation [PDF]
The Journal of Neuroscience, 2009 A key focus of current research in neuroeconomics concerns how the human brain computes value. Although, value has generally been viewed as an absolute measure (e.g., expected value, reward magnitude), much evidence suggests that value is more often computed with respect to a changing reference point, rather than in isolation.
De Martino, Benedetto +3 more
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