Mulino, Daniel; Scheelings, Richard; Brooks, Robert; … - In: Review of Behavioural Finance 1 (2009) 1/2, pp. 44-61
An aspect of prospect theory posits that decision‐makers, when making decisions in the face of risk, make their decisions with respect to a pre‐existing reference point or ‘frame’ (the statusquo bias). We utilize data from the Australian version of the TV game show, Deal or No Deal, to...