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Table of contents (8 chapters)
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Front Matter
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Literature review and research gaps
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Front Matter
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Empirical investigations
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Front Matter
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Summary and discussion
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Front Matter
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Back Matter
About this book
Most of our daily decisions are made under uncertainty and risk, without complete information about all relevant aspects. We all constantly make such decisions, from the simplest “should I take my raincoat today?” to more serious examples, such as those on investment and portfolio decisions, holding of shares, insurance patterns, or negotiation processes. Within these situations, the bounded rationality of individuals and institutions towards risk and uncertainty is embedded. The central theory underlying this study is prospect theory, an adequate model to predict the real and most often bounded rationality of human behavior given certain incentives, preferences, and constraints.
Evelyn Stommel investigates a crucial question within behavioral economics, namely the research on reference points within human decision making processes. Based on experimental investigations, she focuses three key challenges: what constitutes a reference point, the process of the formation of a reference point, and factors influencing the formation of reference points.Authors and Affiliations
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Essen, Germany
Evelyn Stommel
About the author
Bibliographic Information
Book Title: Reference-Dependent Preferences
Book Subtitle: A Theoretical and Experimental Investigation of Individual Reference-Point Formation
Authors: Evelyn Stommel
DOI: https://doi.org/10.1007/978-3-658-00635-8
Publisher: Springer Gabler Wiesbaden
eBook Packages: Business and Economics, Economics and Finance (R0)
Copyright Information: Springer Fachmedien Wiesbaden 2013
Softcover ISBN: 978-3-658-00634-1Published: 03 November 2012
eBook ISBN: 978-3-658-00635-8Published: 02 November 2012
Edition Number: 1
Number of Pages: XV, 224
Number of Illustrations: 9 b/w illustrations
Topics: Microeconomics, Organization