Reference-Dependent Preferences : A Theoretical and Experimental Investigation of Individual Reference-Point Formation

Online-Ressource (XV, 224 p. 9 illus, digital)

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Foreword; Acknowledgement; Table of Contents; List of Abbreviations; 1 Introduction; 1.1 Motivation; 1.2 Structure of the dissertation; Part 1: Literature review and research gaps; 2 Theoretical basis; 2.1 Expected utility theory; 2.2 Violations of expected utility theory and the need for an alternative theory; 2.3 Prospect theory; 2.3.1 Cognitive decision process; 2.3.2 Value function; 2.3.3 Weighting function; 2.4 Main limitation of prospect theory; 3 Reference-dependent preferences; 3.1 State of the art; 3.1.1 Constitution of reference points; 3.1.2 Formation of reference points

3.1.3 Determinants of reference points3.2 Research gaps and research questions; Part 2: Empirical investigations; 4 Research approach; 4.1 Experimental design; 4.2 Methodology of analysis; 5 First experimental study: A second look at expectations as reference points - the domain of losses; 5.1 Introduction; 5.2 Potential impact of expectations given prospect theory preferences; 5.3 Measuring reference point adaptation due to expectations; 5.4 Formulation of predictions; 5.5 Study; 5.5.1 Sample and setting; 5.5.2 Analysis and results; 5.6 Discussion; 5.7 General conclusion

6 Second experimental study: Personality traits and their influence on reference point formation in the domains of gains and lossses6.1 Introduction; 6.2 Measuring reference point adaptation; 6.3 Formulation of hypotheses; 6.3.1 Need for achievement; 6.3.2 Optimism; 6.3.3 Self-esteem; 6.3.4 The constructs of the Big-Five; 6.4 Study; 6.4.1 Sample and setting; 6.4.2 Operationalization of variables; 6.4.3 Analysis and results; 6.5 Discussion; 6.6 General discussion and conclusion; 7 Third experimental study: Managerial reference point formation: risk, affects, and ownership; 7.1 Introduction

7.2 Theory and hypotheses7.2.1 The information: purchase price, current price, and average price; 7.2.2. The information: risk; 7.2.3 Managerial reference point formation based on affects; 7.3 Study; 7.3.1 Framework; 7.3.2 Sample and setting; 7.3.3 Operationalization of variables; 7.3.4 Analysis and results; 7.3.5 Post-hoc tests; 7.4 Discussion and conclusion; 7.4.1 General discussion; 7.4.2 Limitations and future research; 7.4.3 Practical implications; Part 3: Summary and discussion; 8 Summary, implications, and outlook; 8.1 Summary; 8.2 Limitations; 8.3 Implications

8.3.1 Theoretical implications8.3.2 Practical implications; 8.4 Directions for further research; 9 Bibliography; 10 Questionnaires applied in this study; 10.1 Questionnaire Experiment 1 (study 1); 10.2 Questionnaire Experiment 2 (study 2); 10.3 Questionnaire Experiment 3 (study 3)

10.1007/978-3-658-00635-8 [DOI]

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