@techreport{Schmidt2010Endogenizing,
abstract = {In previous models of (cumulative) prospect theory reference-dependence of preferences is imposed beforehand and the location of the reference point is exogenously determined. This note provides a foundation of prospect theory, where reference-dependence is derived from preference conditions and a unique reference point arises endogenously.},
address = {Kiel},
author = {Ulrich Schmidt and Horst Zank},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {D81; 330; Prospect theory; reference point; diminishing sensitivity; loss aversion},
language = {eng},
number = {1611},
publisher = {Kiel Institute for the World Economy (IfW)},
title = {Endogenizing prospect theory's reference point},
type = {Kiel working paper},
url = {http://hdl.handle.net/10419/30262},
year = {2010}
}
