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Common research on decision-making investigates non-interdependent situations, i.e., games against natureʺ. However … makes psychological decision-making more complex by introducing the outcomes for others as an additional attribute of that … frame. It examines whether some irrationalities of human decision-making might be explained by such a shift in grasping the …
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decision problems within (cross-cultural) research on subject-pool differences. -- framing of decision problems ; methodology …
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This study investigates reference-dependent choice with a stochastic, state-dependent reference point. The optimal reference-dependent solution equals the optimal consumption solution (no loss aversion) if the reference point is selected fully endogenously. Given that loss aversion is...
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