Search Results - subject:"Reference points"

EXPECTED UTILITY AND THE ENDOWMENTEFFECT: SOME EXPERIMENTAL RESULTS

Morrison, Gwendolyn C. - University <Nottingham> / Department of Economics - 2000

preferences. Key words: Expected Utility; Endowment Effect; Standard Gambles; Reference Points JEL Classification: D1; D8; C9 …

Persistent link: https://www.econbiz.de/10005869086

Social Comparisons as a device for cooperation in simultaneous-move games

Munoz-Garcia, Felix - School of Economic Sciences, Washington State University - 2008

This paper analyzes the effects of players' relative comparisons in complete information simultaneous-move games. In particular, every individual is assumed to evaluate the kindness she infers from other players'choices by comparing these choices with respect to a given refer- ence level....

Persistent link: https://www.econbiz.de/10005727836

Prospect Theory and Coercive Bargaining

Butler, Christopher K. - In: Journal of Conflict Resolution 51 (2007) 2, pp. 227-250

examination of different types of reference points that make sense for bargaining problems. Four types of reference points are … discussed and analyzed: power-based, equity, variants of the status quo, and extreme ``I-want-it-all'' reference points. Each of … these types of reference points produce different bargaining behavior at the individual level and in combination with the …

Persistent link: https://www.econbiz.de/10010802270

Who is Learning From Whom? A Study of Households Forming Expectations in the US and UK

Easaw, Joshy; Ghoshray, Atanu; Barassi, Marco - Department of Economics, University of Birmingham - 2006

The present paper outlines a theoretical model of agent-based learning. An agent ‘anchors’ his subjective expectations (or forecasts) to another agent’s subjective expectations. The former believes the latter has a better information set and, therefore, able to make better subjective...

Persistent link: https://www.econbiz.de/10005086701

The Effect of Explicit Reference Points on Consumer Choice and Online Bidding Behavior

Dholakia, Utpal M.; Simonson, Itamar - In: Marketing Science 24 (2005) 2, pp. 206-217

focal auction with adjacent listings. Results showed that explicit reference points (1) diminished the influence of adjacent …

Persistent link: https://www.econbiz.de/10008787994

Bargaining with reference points-bargaining with claims: Egalitarian solutions reexamined

Blanco, Carmen Herrero - Instituto Valenciano de Investigaciones Económicas (IVIE) - 1994

A unified approach to the problems of bargaining with a reference point and of bargaining with claims is addressed. Then, two solutions are reexamined from this perspective: the lexicographic egalitarian and the lexicographic claim-egalitarian. New characterization results are also provided.

Persistent link: https://www.econbiz.de/10008557118

Loss Aversion in a Savings Model

Bowman, David; Minehart, Debby; Rabin, Matthew - Institute of Business and Economic Research (IBER), … - 1993

Persistent link: https://www.econbiz.de/10010677902

Reserve Prices in Auctions as Reference Points

Rosenkranz, Stephanie; Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2004

We consider second-price and first-price auctions in the symmetric independent private values framework. We modify the standard model by the assumption that the bidders have reference-based utility, where the reserve price (minimum bid) plays the role of the reference point. In contrast to the...

Persistent link: https://www.econbiz.de/10005792017

The Shape of Utility Functions and Organizational Behavior

Pennings, Joost M. E.; Smidts, Ale - In: Management Science 49 (2003) 9, pp. 1251-1263

Based on measurements among 332 owner-managers, we investigate how the global shape of the utility function (i.e., S-shaped versus concave or convex over the total range of outcomes) relates to choice behavior. We find that the global shape of the utility function differs across decision makers...

Persistent link: https://www.econbiz.de/10009203658