Revealed (P)Reference Theory
2015 ◽
Vol 105
(1)
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pp. 299-321
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Keyword(s):
This paper develops axiomatically a revealed preference theory of reference-dependent choice behavior. Instead of taking the reference for an agent as exogenously given in the description of a choice problem, we suitably relax the Weak Axiom of Revealed Preference to obtain, endogenously, the existence of reference alternatives as well as the structure of choice behavior conditional on those alternatives. We show how this model captures some well-known choice patterns such as the attraction effect. (JEL D11, D81)
2010 ◽
Vol 10
(1)
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Keyword(s):
1996 ◽
Vol 26
(4)
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pp. 463-477
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2000 ◽
Vol 16
(1)
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pp. 99-115
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Keyword(s):
2014 ◽
Vol 2014
◽
pp. 1-7
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2020 ◽
Vol 12
(1)
◽
pp. 299-316
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Keyword(s):
1979 ◽
Vol 12
(4)
◽
pp. 767
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