Hudik, Marek - In: History of Political Economy 46 (2014) 4, pp. 677-693
This article shows that the possibility of formally incorporating reference-dependence into the theory of consumer behavior was explored well before Kahneman and Tversky in the early 1990s; specifically, in separate papers by Alt, Samuelson, and Bernardelli in the late 1930s. These papers...