| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20343 |
| 来源ID | Working Paper 20343 |
| Reference-Dependent Preferences: Evidence from Marathon Runners | |
| Eric J. Allen; Patricia M. Dechow; Devin G. Pope; George Wu | |
| 发表日期 | 2014-07-31 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | Models of reference-dependent preferences propose that individuals evaluate outcomes as gains or losses relative to a neutral reference point. We test for reference dependence in a large dataset of marathon finishing times (n = 9,524,071). Models of reference-dependent preferences such as prospect theory predict bunching of finishing times at reference points. We provide visual and statistical evidence that round numbers (e.g., a four-hour marathon) serve as reference points in this environment and as a result produce significant bunching of performance at these round numbers. Bunching is driven by planning and adjustments in effort provision near the finish line and cannot be explained by explicit rewards (e.g., qualifying for the Boston Marathon), peer effects, or institutional features (e.g., pacesetters). We calibrate a simple model of prospect theory as well as other models of reference dependence and show that the basic qualitative shape of the empirical distribution of finishing times is consistent with parameters that have previously been estimated in the laboratory. |
| 主题 | Microeconomics ; Behavioral Economics ; Labor Economics ; Labor Supply and Demand |
| URL | https://www.nber.org/papers/w20343 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578016 |
| 推荐引用方式 GB/T 7714 | Eric J. Allen,Patricia M. Dechow,Devin G. Pope,et al. Reference-Dependent Preferences: Evidence from Marathon Runners. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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