Time-inconsistent Preference and Reference Dependence
- UNCP Author/Contributor (non-UNCP co-authors, if there are any, appear on document)
- Dr. Ramin Cooper Maysami, Former Dean/Professor, School of Business (Creator)
- Dr. Xinyan (Yan) Shi, Associate Professor, School of Business (Creator)
- Institution
- The University of North Carolina at Pembroke (UNCP )
- Web Site: http://www.uncp.edu/academics/library
Abstract: The paper explains time-inconsistent preferences by particularly focusing on the concept of reference dependence. The objective is to propose a short survey on various features of reference dependence and different causes that lead to the change of reference level. The emphasis of the paper is on the interpretation of the concepts and their behavioral implications.
Time-inconsistent Preference and Reference Dependence
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Created on 9/17/2014
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Additional Information
- Publication
- Briefing Notes in Economics Issue 89, September/October 2013
- Language: English
- Date: 2013
- Keywords
- Time-inconsistent Behaviors, Reference Dependence, Procrastination, Habit Formation, Addiction, Loss Aversion, Diminishing Sensitivity, Accommodation, Adaption, Physical Proximity, Temporal Proximity, Social Comparison.