Framing, Expectations and Reference Points

Autor:	März, Oliver
Jazyk:	angličtina
Rok vydání:	2016
Předmět:	salience effects Expectations Speculations Criteria for Decision-Making under Risk and Uncertainty Salience D81 Microéconomie Economie de l'incertitude D84 C91 Economie Framing Laboratory Individual [Design of Experiments] Stochastic Reference Points
Zdroj:	ECARES Working Papers; ECARES 2016-40
Popis:	Recent theories of expectation-based reference-dependent preferences offer a structured approach of the formation of reference points, yet do not incorporate important context-specific characteristics. One implicit assumption is that individuals form their reference point as expectations by correctly predicting the probabilistic environment they are facing. In an experimental setup, we demonstrate that a simple change in the framing of a decision problem alters the reference point formation by evoking a different moment of first focus. Apart from providing evidence on the limitations of current theories of expectation-based reference dependence, this paper further offers a theoretical extension that overcomes these limitations and allows reference points to be contingent on contextual effects. info:eu-repo/semantics/published
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=dedup_wf_001::1ec544abd51bc2b4f0095b9451dc8665 http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/239785 Zobrazit plný text záznamu