Sundmacher, Maike; Daly, Kevin James; Valentine, T. J.; … - University of Western Sydney; University of Western Sydney; … - 2005
reference point, which is important to the decision maker. In the context of Prospect Theory the existence of such a reference … attitude of a decision-maker is influenced by the attention paid to a particular aspiration level and the attached probability … of achieving it. The concept of an aspiration level in decision-making processes has also been explored by March and …