|
EconStor >
Verein für Socialpolitik >
Jahrestagung des Vereins für Socialpolitik 2010 (Kiel): Ökonomie der Familie >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/37536
|
| | |
| Title: | | Endogenous Prospect Theory  |
| 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: | | Publikationen von Forscherinnen und Forschern des IfW Economists Online Jahrestagung des Vereins für Socialpolitik 2010 (Kiel): Ökonomie der Familie
|
| |
| | |
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.
|