EconStor >
Verein für Socialpolitik >
Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/37536
  
Title:Endogenous Prospect Theory PDF Logo
Authors:Schmidt, Ulrich
Zank, Horst
Issue Date:2010
Series/Report no.:Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Individual Decision Making Under Risk and Uncertainty F15-V3
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 paper provides an axiomatization of a new specification of cumulative prospect theory, termed endogenous 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
C91
D80
Document Type:Conference Paper
Appears in Collections:Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie
Publikationen von Forscherinnen und Forschern des IfW

Files in This Item:
File Description SizeFormat
VfS_2010_pid_1050.pdf240.73 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/37536

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.