While reference dependence has been widely observed in a deterministic choice setting, little is known about the nature of reference dependence in stochastic choice. We study stochastic choice in the setting of the elicitation of certainty equivalents where subjects often exhibit...

Purpose: In the current urban and increasingly digital/information era, the service of property management towards residents is of key importance to the well-being of society, which is especially well reflected in its role during the COVID-19 pandemic in China. However, professional knowledge...