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Persistent link: https://www.econbiz.de/10010499698
A hallmark result within behavioral economics is that individuals' choices are affected by current endowments. A recent theory due to Kőszegi and Rabin (<link href="#jeea12084-bib-0010"/>, Quarterly Journal of Economics, 121, 1133–1165) explains such endowment effect with a model of expectations-based reference-dependent...
Persistent link: https://www.econbiz.de/10011035498