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http://hdl.handle.net/10419/30262
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| Title: | | Endogenizing prospect theory's reference point  |
| Authors: | | Schmidt, Ulrich Zank, Horst |
| Issue Date: | | 2010 |
| Series/Report no.: | | Kiel working paper 1611 |
| 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. |
| Subjects: | | Prospect theory reference point diminishing sensitivity loss aversion |
| JEL: | | D81 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Economists Online Kieler Arbeitspapiere, IfW
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