| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP10823
|
| DP10823 Reference Point Formation |
| Kees Koedijk
|
| 发表日期 | 2015-09-13
|
| 出版年 | 2015
|
| 语种 | 英语
|
| 摘要 | It is well-established that reference points are a feature of decision making under risk. In this paper we report an experiment, in which we investigate which of three potential reference points: (1) a status quo payoff level, (2) the average expected earnings of peers, and (3) a stated expectation of the experimenter, best describes behavior in a decontextualized risky decision making task. We find heterogeneity among individuals in the reference points they employ. The status quo level is the modal reference point, followed by the experimenter's stated expectation of participant earnings, and in turn by the average expected earnings of peers. A sizeable share of individuals show multiple reference points simultaneously. Reference points can be affected by a change in the income level. |
| 主题 | Financial Economics
|
| 关键词 | Reference point
Experiment
|
| URL | https://cepr.org/publications/dp10823
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539652
|
推荐引用方式
GB/T 7714 |
Kees Koedijk. DP10823 Reference Point Formation. 2015.
|
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