Reference-Dependent Preferences

A Theoretical and Experimental Investigation of Individual Reference-Point Formation

Authors: Stommel, Evelyn

  • Publication in the fiels of economic studies

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eBook $69.99
price for USA (gross)
  • ISBN 978-3-658-00635-8
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $89.99
price for USA
  • ISBN 978-3-658-00634-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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.

About the authors

Evelyn Stommel is a doctoral student at Wissenschaftliche Hochschule für Unternehmensführung (WHU) – Otto Beisheim School of Management.

Table of contents (8 chapters)

  • Introduction

    Stommel, Evelyn

    Pages 1-7

  • Theoretical basis

    Stommel, Evelyn

    Pages 11-30

  • Reference-dependent preferences

    Stommel, Evelyn

    Pages 31-63

  • Research approach

    Stommel, Evelyn

    Pages 67-74

  • First experimental study: A second look at expectations as reference points – the domain of losses

    Stommel, Evelyn

    Pages 75-94

Buy this book

eBook $69.99
price for USA (gross)
  • ISBN 978-3-658-00635-8
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $89.99
price for USA
  • ISBN 978-3-658-00634-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Reference-Dependent Preferences
Book Subtitle
A Theoretical and Experimental Investigation of Individual Reference-Point Formation
Authors
Copyright
2013
Publisher
Gabler Verlag
Copyright Holder
Springer Fachmedien Wiesbaden
eBook ISBN
978-3-658-00635-8
DOI
10.1007/978-3-658-00635-8
Softcover ISBN
978-3-658-00634-1
Edition Number
1
Number of Pages
XV, 224
Number of Illustrations and Tables
9 b/w illustrations
Topics