Are reference points merely lagged beliefs over probabilities?
نویسندگان
چکیده
What explains the mixed evidence from laboratory tests of K?szegi and Rabin’s (2006 later) model expectations-based reference-dependent preferences? We investigate one hypothesis: to become (behavior-affecting) reference points, probability beliefs have sink in —being merely lagged , as theory requires, is not sufficient. Past experiments with conflicting findings exogenously endowed subjects that were equally lagged, but possibly unequally sunk-in. In four experiments, whose designs replicate past KR-nonsupporting we add new sink-in manipulations endow individuals additional, visual/physical impressions. Our are more KR-supporting an endowment-effect setting effort-provision setting.
منابع مشابه
Lagged Beliefs and Reference-Dependent Preferences
The Kőszegi-Rabin model of reference-dependent preferences proposes that the reference point to which consumption outcomes are compared is endogenously determined as a function of lagged, probabilistic beliefs. This paper presents an experiment designed to test some predictions of the Kőszegi-Rabin model. The design controls for potential confounds suggested by their theory. The experimental re...
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ژورنال
عنوان ژورنال: Journal of Economic Behavior and Organization
سال: 2021
ISSN: ['0167-2681', '1879-1751']
DOI: https://doi.org/10.1016/j.jebo.2020.11.010