Our theory, for instance, supports the common view that the “endowment effect” found in the laboratory, whereby random owners value an object more than nonowners, is due to loss aversion—since an owner’s loss of the object looms larger A MODEL OF REFERENCE-DEPENDENT PREFERENCES 1135 than...
A Model of Reference-Dependnet PreferencesKőszegi, BotondRabin, Matthew
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...
We formulate a model of reference-dependent preferences based on the marginal rate of substitution at the reference-point of a reference-free utility function. Using binary choices on the trade-off between money and travel time, reference-dependence is captured by value functions that are centered ...
We explicitly examine the effect of sophistication on demand for Roscas, one of the most well known informal commitment devices. We develop a model following a reference dependence preferences approach, and generalize existing formulations of partial naivete with respect to hyperbolic discounting by O'...
A model in which self-regarding and social preferences may be either substitutes or complements is developed and evidence for the mechanisms underlying this non-additivity feature of preferences is provided. The result is a preference-based analogue to the Lucas Critique restricting feasible ...
Employment is a vital source for experiencing well-being and lowering the risk of long-term social marginalisation and poverty. For persons with alcohol and drug addiction, it may also improve sobriety. However, the unemployment situation for this group
We study optimal price discrimination when a monopolist faces a continuum of consumers with reference-dependent preferences. A consumer's valuation for pro... JC Carbajal,JC Ely - 《Theoretical Economics》 被引量: 39发表: 2016年 A model of price discrimination under loss aversion and state-contin...
al.48investigated the selection process of natural fibers for sustainable composites. They proposed a hybrid MCDM model that utilized the Entropy and CRITIC methods to calculate the criteria weights, and the PROMETHEE II, TOPSIS, and VIKOR methods to rank the materials under consideration. Bhaskar ...
2a). If any reference spectrum is missing, a predicted spectrum will be generated using a similarity-network model28 (“Methods” section, Fig. 2b). All candidates are then used to obtain the deconvolved spectrum based on a self-tuned regression algorithm (“Methods” section). The SWATH-DIA...