Year: 2010
Type: dissertation
Abstract: In economic situations people form expectations prior to their decisions. These expectations represent a reference point and exert a strong influence on decision making and preferences. This paper surveys the theory of reference-dependent preferences. I will summarize the theoretical framework and present experimental evidence in support of preferences being reference-dependent. Additionally, I will address the still open and fundamental questions of how expectations are formed. That is: How are reference points formed?
Source: KOPS (University of Konstanz)
Author: Maximilian Tenberge
Institution: University of Konstanz
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W856709269
