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http://hdl.handle.net/10419/49697
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| Title: | | Reference points and effort provision  |
| Authors: | | Abeler, Johannes Falk, Armin Götte, Lorenz Huffman, David |
| Issue Date: | | 2009 |
| Series/Report no.: | | CeDEx discussion paper series 2009-02 |
| Abstract: | | A key open question for theories of reference-dependent preferences is what determines the reference point. One candidate is expectations: what people expect could affect how they feel about what actually occurs. In a real-effort experiment, we manipulate the rational expectations of subjects and check whether this manipulation influences their effort provision. We find that effort provision is significantly different between treatments in the way predicted by models of expectation-based reference-dependent preferences: if expectations are high, subjects work longer and earn more money than if expectations are low. |
| Subjects: | | reference points expectations loss aversion risk aversion disappointment experiment |
| JEL: | | C91 D01 D84 J22 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CeDEx Discussion Paper Series, The University of Nottingham
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